AGP Executive Report
Last update: 3 hours agoHousehold Finances: The Fed’s latest survey found retirement-plan participation edged up to 54.9% of families, and median retirement-account balances rose 11% to $106,000. Wealth gains remain uneven: families headed by someone 75 or older had median net worth near $505,000, while the median for adults 35 and under fell 23% to $33,000. Separately, nearly one in five U.S. families fell behind on debt payments, the highest share since 2010. Fed Independence: President Trump created a three-person committee to recommend whether he has cause to remove Governor Lisa Cook over mortgage-fraud allegations she denies. The panel cannot fire her, and any move by Trump could lead to another court fight. Bank Oversight: The Federal Reserve ordered American Express to address failures to adequately detect and report certain suspicious activity tied to money laundering. Consumer Mood: U.S. consumer confidence slipped to 46.3 in October from 48.1 in September, as high prices and borrowing costs weighed on views of household finances and major purchases.
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