The Federal Reserve Bank of St. Louis has named Matuschka Lindo Briggs as vice president and regional executive for the Little Rock Branch, which serves the majority of Arkansas. Briggs succeeds Robert Hopkins, who retired in mid-June after 38 years at…
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Beige Book: Arkansas Continues to See Improving Economic Conditions
by AMP Staffby AMP StaffThe Federal Reserve Bank’s latest Beige Book economic summary, released Wednesday, indicates continued improving economic conditions in Arkansas and the Eighth District. Amid overall moderate improvement, labor and materials shortages continue to restrain ability to meet customer demand, the report…
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Arvest Bank Joins Federal Reserve’s Instant Payment Program
by Tyler Haleby Tyler HaleArvest Bank will be participating in a new Federal Reserve Bank program that is designed to allow financial institutions to provide instant payment services around the clock. This new pilot program, FedNow, is aimed at giving banks and financial institutions…
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Bullard Reappointed to Lead Federal Reserve Bank of St. Louis
by Tyler Haleby Tyler HaleFederal Reserve Bank of St. Louis president James B. Bullard and first vice president Kathleen O. Paese have been reappointed to their positions for a new five-year term. This new term will begin March 1, 2021. According to the Federal…
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St. Louis Fed Research Director Set to be Confirmed as Federal Reserve Governor
by Tyler Haleby Tyler HaleUPDATE: Waller was confirmed by the U.S. Senate as a Federal Reserve governor on Thursday. The St. Louis Federal Reserve Bank research director is set to be confirmed to the Federal Reserve Board of Governors. Christopher Waller is projected to…
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Federal Interest Rates to Remain Near Zero as Pandemic Continues
by Tyler Haleby Tyler HaleFederal interest rates will remain near zero, the Federal Reserve announced on Thursday. The Federal Reserve will maintain its current course, keeping the federal funds rate at 0 to 0.25 percent. Following a the Fed’s policymaking committee, the Federal Open…
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Latest Federal Reserve Report Shows Slight Economic Increase in Arkansas’ District
by Tyler Haleby Tyler HaleEconomic activity has improved “slightly” in Arkansas’ region, according to the latest report from the Federal Reserve Bank. In the latest Beige Book report, the agency revealed that economic activity had “increased slightly” but that it is variable across multiple…
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Bank OZK’s Second Quarter Net Income Drops Significantly From Same Time in 2019
by Tyler Haleby Tyler HaleBank OZK’s earnings dropped significantly for the second quarter of 2020, compared to its performance in 2019. The Little Rock-headquartered bank released its second-quarter financial report today (July 23), showing that it earned $50.3 million in net income. This marks…
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Economy Recovering But Still Depressed, Federal Reserve Says
by Tyler Haleby Tyler HaleEconomies in Middle America are still struggling as result of the COVID-19 pandemic, according to a recent report from the Federal Reserve Bank. In the July 2020 issue of “The Beige Book,” the institution summarized the levels of economic activity…
The Federal Reserve Board announced on Thursday, April 30 that the scope and eligibility for the Main Street Lending Program will be expanded after 2,200 letters of feedback were received from the public. The Main Street Lending Program was developed…