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(Reuters) -Shares of Fannie Mae and Freddie Mac, the mortgage giants under U.S. government control since 2008, surged to multi-year highs on Friday after federal agencies revealed a framework for their "orderly" release from conservatorship. The U.S. Treasury Department and the Federal Housing Finance Agency (FHFA) said on Thursday they had amended their agreements with the companies to help ensure that their eventual exit from conservatorship is not disruptive. Exiting conservatorship would mark a key milestone for Fannie and Freddie, which were created by the Congress to support the housing market by ensuring affordable mortgage financing, but crumbled after being severely bruised during the 2008 financial crisis.

BALTIMORE (Reuters) -The U.S. central bank's benchmark policy rate should stay restrictive until it is more certain that inflation is returning to its 2% target, Richmond Federal Reserve President Thomas Barkin said on Friday. "I think there is more upside risk than downside risk" to inflation, given the economy's continued strength and the possibility of renewed wage and other price pressures, Barkin told the Maryland Bankers Association in Baltimore. Though Barkin is not a voting member of the Fed's rate-setting committee this year, his comments reflect a developing debate inside the central bank about when to cut interest rates again and how to account for an increasingly uncertain economic environment as President-elect Donald Trump prepares to take power again later this month.

(Bloomberg) -- Federal Reserve Bank of Richmond President Tom Barkin said there are still upside risks to inflation and growth, underscoring his preference to keep interest rates restrictive for longer.Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYC Congestion Pricing to Take Effect After Years of DelaysNYC Congestion Pricing Takes Effect After Years of DelaysNYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueNYC Congestion Pricing Cleared by Judge for S

(Bloomberg) -- Gold erased gains as traders geared up for US economic data that may help them assess the outlook for interest rates in the year ahead. Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYC Congestion Pricing to Take Effect After Years of DelaysNYC Congestion Pricing Takes Effect After Years of DelaysNYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueNYC Congestion Pricing Cleared by Judge for Sunday LaunchBullion fell 0.3% to $2,654 an ounce, t

(Bloomberg) -- The US banking system’s reserves, a key factor in the Federal Reserve’s decision to keep shrinking its balance sheet, tumbled below $3 trillion to the lowest since October 2020.Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueDetroit’s Michigan Central Is the Building Revival Story of 2024Burned-Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusB

(Bloomberg) -- President Joe Biden is preparing to issue a decree permanently banning new offshore oil and gas development in some US coastal waters, locking in difficult-to-revoke protections during his final weeks in the White House.Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueDetroit’s Michigan Central Is the Building Revival Story of 2024Burned-Out Parents Need Better Public SpacesA Commuting Resoluti

(Bloomberg) -- Treasuries began 2025 with a measured rally that was soon overtaken by signs of economic resilience including low jobless claims, heavy corporate bond sales and rising oil prices. Most Read from BloombergIs This Weird Dome the Future of Watching Sports?NYPD Seeking Gunmen After 10 People Wounded Outside Queens VenueDetroit’s Michigan Central Is the Building Revival Story of 2024Burned-Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or B