Government regulators took the extraordinary step over the weekend of making whole uninsured depositors at two failed banks, but savers shouldn’t count on similar treatment if other banks fail in the ...
Tag: Federal Reserve
What Happened To Signature Bank? The Latest Bank Failure Marks Third Largest In History
Topline Signature Bank, a New York-based regional bank that became a leader in cryptocurrency lending, shuttered suddenly on Sunday, marking the third-biggest bank failure in U.S. history just two day...
Goldman Analysts Forecast No Fed Rate Hike In March
Topline Analysts at Goldman Sachs on Sunday said it “no longer expects” the Federal Reserve to hike interest rates later this month, after federal regulators moved to swiftly shield the U.S. banking s...
Binance converting $1 billion in BUSD to bitcoin, ether and BNB
Binance CEO Changpeng Zhao announced on Twitter that the foremost crypto exchange would convert the approximately $1 billion remaining from its Industry Recovery Initiative funds to native crypto asse...
Here Are 4 Things That Small Banks Must Do Now
In the wake of the largest bank failure since the Great Financial Crisis small banks are in a particularly special space. Small banks are needed now more than ever, but they must navigate the current ...
State regulator takes control of Signature Bank, federal regulators guarantee deposits
Policy • March 12, 2023, 7:29PM EDT The New York Department of Financial Services seized crypto-friendly Signature Bank in order “to protect depositors,” the state banking regulator said i...
Warning Signals About Silicon Valley Bank Were All Around Us
Silicon Valley Bank now has the dubious distinction of being the second largest bank failure in the … [+] history of the United States. (Photo by NOAH BERGER / AFP) AFP via Getty Images Silicon ...
Silicon Valley Bank’s Failure May Lead to Smaller Fed Rate Hike
The second-largest bank failure in U.S. history might help the Federal Reserve do its job of tightening credit and slowing the economy. To be sure, the sudden collapse of the Silicon Valley Bank unit ...
Biggest Bank Failure Since Great Recession Sparks ‘Overblown’ Fears Of Contagion—But Big Lingering Risks Remain
Topline The sudden collapse of startup lender Silicon Valley Bank—which has culminated in the biggest bank failure since the Great Recession—has wreaked havoc on stocks and sparked fears of a potentia...
Jobs Report Is So-So For Workers
Layoffs begin. Amityville, N.Y.: Co-workers yell during a demonstration outside one of the Akorn Pharmaceuticals … [+] buildings in Amityville, New York on Feb. 24, 2023. The pharmaceuticals com...
Markets Now See Larger Fed Hike This Month
Federal Reserve Chairman Jerome Powell testifies during a Senate Banking Committee hearing on … [+] Capitol Hill in Washington, Tuesday, March 7, 2023. (AP Photo/Andrew Harnik) Copyright 2023 Th...
Jobless Claims Unexpectedly Rise To 2023 High As Fed Hikes Threaten New Waves Of Layoffs
Topline New weekly jobless claims rose to the highest level of the year last week despite projections they would remain near historically low levels—signaling more waves of layoffs could be on the way...
How High Will Fed Raise Rates? Powell Fuels Fears Rates Could Hit 6%
Topline One day after Federal Reserve Chair Jerome Powell caught investors off guard by striking a more hawkish tone than expected, the central banker is set to give the U.S. House additional details ...
In a ‘Real World’ of Credit, Money Is Never Remotely ‘Free’
A recent opinion piece referenced a time in the not-too-distant past when money was “virtually free.” This was before Fed Chairman Powell supposedly brought “real world” to the cost of credit. Readers...
Dow Falls Nearly 600 Points As Fed Chair Powell Warns More Severe Rate Hikes On Deck
Topline Federal Reserve Chair Jerome Powell struck a more hawkish tune than expected during his semiannual report to Congress on Tuesday, saying the central bank will continue to up the temperature on...
Dow Falls 500 Points As Fed Chair Powell Warns More Severe Rate Hikes On Deck
Topline Federal Reserve Chair Jerome Powell struck a more hawkish tune than expected during his semiannual report to Congress on Tuesday, saying the central bank will continue to up the temperature on...
Operation Choke Point 2.0: Is the US Coming for Crypto?
If FTX was a butterfly flapping its wings in the Amazon rainforest, “Operation Choke Point 2.0” is the torrential rain now pouring down over the US crypto industry. Biden’s White House, the Federal Re...
Powell’s Hawkish Testimony Raises Prospect Of Larger March Hike
Federal Reserve Chairman Jerome Powell testifies during a Senate Banking Committee hearing on … [+] Capitol Hill in Washington, Tuesday, March 7, 2023. (AP Photo/Andrew Harnik) Copyright 2023 Th...
Dow Falls 400 Points As Fed Chair Powell Warns More Severe Rate Hikes On Deck
Topline In a semiannual report to Congress beginning Tuesday at 10 a.m., Federal Reserve Chair Jerome Powell struck a more hawkish tune than expected, saying the central bank will continue to up the t...
Crypto Whipsaws as Powell Talks to Congress
Bitcoin and ether lost as much as 1.7% and 1.5% as Federal Reserve Chair Jerome Powell appeared in the Senate, before paring losses. Risk assets took a hit Tuesday Morning as the central bank head tol...
Markets Watch Powell For Signs As Fed Chair Testifies Before Congress
Topline In a semiannual report to Congress beginning Tuesday at 10 a.m., Federal Reserve Chair Jerome Powell will offer a glimpse into how officials are thinking about the economy as they continue the...
January PCE Does Not Warrant More Aggressive Tightening
Depressing economic news is everywhere. getty The recent release of the January PCE (personal consumption expenditures) inflation figures sparked the now all-too-familiar scary inflation headlines. Bu...
U.S. Treasury convening regular Biden administration discussions on CBDC
Policy • March 1, 2023, 2:38PM EST The U.S. Treasury, Federal Reserve and White House officials “will begin to meet regularly” to talk about a possible central bank digital currency, said Nellie Liang...
Tech Carried the Stock Market. Now They’re Taking It Down With Them.
The prospect of still-higher short- and long-term interest rates produced the worst week for the S&P 500 index in the relatively young year, a drop of 2.67%, and the third straight down week for t...
The Stock Market Doesn’t Look Cheap, Any Way You Slice It
Stock indexes closed another losing week in a downbeat February, as investors continue to debate the path of the economy and monetary policy. It’s a decidedly muddled outlook for the market from a fun...
Any Way You Slice It, Stocks Still Don’t Look Cheap
Text size This past week’s numbers gave investors plenty to fret about. Spencer Platt/Getty Images Stock indexes closed another losing week in a downbeat February, as investors continue to debate the ...
What To Expect From The Fed’s March Meeting
Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a … [+] Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Feb. 1, 202...
Is the U.S. Economy In Recession? What the Fed—and Everyone Else—Got Wrong.
It was roughly a year ago, after the Russian invasion of Ukraine caused an oil-price shock and the Federal Reserve kicked off its interest-rate-tightening campaign, that forecasters began warning in e...
Tech Carried This Upturn, and Now It’s Taking the Market Down With It
The prospect of still-higher short- and long-term interest rates produced the worst week for the S&P 500 index in the relatively young year, a drop of 2.67%, and the third straight down week for t...