Economic data this past week generally portrayed activity and growth to be “holding up,” with consumer spending being underpinned by the wealth effect on well-off population cohorts and by lower personal savings rates. Meanwhile, elevated price pressures remain stubborn. Fedspeak was on the mildly hawkish side this past week, as another rate hike remains a distinct possibility for this year. The monthly jobs report, to be released just prior to this edition hitting inboxes, may spark some market movement and will conclude the week’s data blizzard. The week ahead is light on economic data but offers a handful of Fed speakers. Also, the release of last month’s FOMC Minutes should reveal insights on the Fed’s rate-hike decision and the potential path forward...

The banking industry has changed dramatically over the past decade. Following years of near-zero interest rates after the Global Financial Crisis, institutions navigated one of the most aggressive monetary tightening cycles in modern history. Since 2022, the Federal Reserve increased short-term interest rates by more than 500 basis points before beginning a gradual easing cycle and more recently a Fed rate hike, creating one of the most challenging operating environments for balance sheet managers in decades...

Tune in for a thought-provoking discussion with Frank Farone, Managing Director at Darling Consulting Group, on how community financial institutions can evaluate the true cost of funds, challenge common misconceptions about wholesale funding, and develop a more effective approach to liquidity, profitability, and balance sheet management...