The U.S. government on Sunday sought to affirm confidence in the U.S. banking system by announcing protection for all depositors in Silicon Valley Bank. Treasury Secretary Janet Yellen approved measures to resolve the failure of Silicon Valley Bank “in a
The government wants to stem a run on the banks.
“We are concerned about depositors and are focused on trying to meet their needs,” Yellen said.
California’s bank regulators say the bank was in sound financial condition the day before yesterday.
The sudden implosion of Silicon Valley Bank (SVB) is sending shock waves through the financial system and the technology sector.
The bank is reportedly looking to sell itself to a larger financial institution.
The economy continues to add jobs at a much faster than expected rate.
Federal Reserve Chair Jerome Powell introduced a third dimension to the Fed’s monetary policy: the pace of interest rate hikes.
Biden’s budget envisions budget deficits as far as the eye can see.
The number of Americans applying for unemployment benefits last week rose by more than expected but remained at a historically low level. Initial claims for jobless benefits in the U.S. jumped by 21,000 to 211,000 from 190,000 the previous week,
The market’s expectations for the rate hike coming out of the March meeting of the Federal Open Market Committee (FOMC) moved violently on Tuesday as the Fed chief testified before the Senate Banking Committee.
The Department of Labor said Wednesday that employers had 10.824 million open positions at the end of January, above the expected 10.6 million.
The most entertaining scene in Tuesday’s Senate hearing on monetary policy was also its most enlightening, highlighting two opposing views of inflation and the underlying mechanics of the U.S. economy.
Used car prices were the canary in the coal mine the last time inflation surged. They’ve now been jumping for three months in a row.
Senator Warren said that the Fed’s policies threaten to throw millions of Americans out of work.
Hotter than expected data has forced the Fed to rethink the pace and peak of interest rates.
Fed Chair Jerome Powell is expected to take a hawkish tone in his Capitol Hill testimony this week and defend the view that interest rates will likely go higher than anticipated.
Looking beyond aircraft orders, U.S. factory orders have not weakened by as much as expected despite the headwind of Fed hikes.
The services sector index for February shows that progress on inflation has definitely stalled as demand for services remains strong.
The February ISM numbers indicate that January’s strength was not a warm weather one-off.
A highly anticipated speech by Fed Governor Christopher Waller was scrapped after a participant in the Zoom call started showing porn to the audience.
Government stimulus payments during the coronavirus pandemic may have played a larger role than thought in fueling inflation.
The average annual productivity of the American worker fell 1.7 percent last year.
Labor costs jumped 6.5 percent in 2022, higher than the preliminary estimate of 5.7 percent.
The labor market remains incredibly tight.
The surge in inflation witnessed in January appears to be more persistent than expected.
Jerome Powell finally got some good news today: the American people grew increasingly pessimistic about the economy in February.
Worsening expectations overcame a favorable view of current job prospects.
Higher mortgage rates have thrown sand into the gears of the housing market.
We’re still awash in data showing January was a month of unexpectedly strong growth and resurgent inflation.
Factory activity in the Lone Star state declined for the first time since May 2020.
Is the housing recession already over?
A surprisingly strong month for business investment.
The personal consumption expenditure data released Friday confirmed the January inflationary boom.
Sentiment up among Republicans and down among Democrats after Republicans assume control of the House.
Prices surged in January, defying predictions that inflation was on its way out. The Fed’s policies are proving less effective than expected.
Republican politicians are acting in ways that suggest they are not enthralled to political donations from financial companies and other big corporations.
Still think the stance of monetary policy is restrictive?
But inflation ran hotter.
The Fed’s policy stance increased looks like it is “insufficiently restrictive” to rein in demand for labor.