Labor/Economy

In testimony before the Senate Banking Committee this week, Daniel Tarullo, a member of the board of governors of the Federal Reserve, said that the central bank wants to change regulations governing too-big-to-fail banks (or GSIBs, global systemically important banks, in Fed-speak).

Trulia reported that asking prices nationally for residential properties rose 1 percent in August, up a bit from 0.7 percent in July.

Americans borrowed more in July than in June, according to the Federal Reserve, with U.S. consumer credit increasing at an annualized rate of 9.7 percent during the month, compared with 7.1 percent in June.

Despite the relatively low number of jobs created in August—142,000 versus a 12-month average of 212,000 per month—some sectors continued to add jobs, according to the Bureau of Labor Statistics.

The U.S. economy created 142,000 jobs in August, according to the Bureau of Labor Statistics, down somewhat from the stronger gains of the last 12 months, which have averaged 212,000 per month.

The Federal Reserve released the latest “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” better known as the Beige Book. According to the report, economic activity has expanded in all the 12 Federal Reserve districts since the previous book, but “none of the Districts pointed to a distinct shift in the overall pace of growth.”

CoreLogic reported that home prices, including distressed sales, increased 7.4 percent in July 2014 compared with the same month a year earlier.