SVB Hearing Takeaways: Bank Failures Spur a Blame Game, But Few Solutions
Federal regulators confronted greater than two hours of intense questioning from lawmakers on Tuesday about what induced the failures of Silicon Valley Bank and Signature Bank, the crimson flags that went unheeded and the...
Will Bank Turmoil Tank the Economy?
“It definitely brings us closer” to a downturn, Neel Kashkari, the president of the Minneapolis Fed, stated on CBS News’s “Face the Nation” this weekend. “Right now what’s unclear for us is how much...
Lawmakers Rebuke Biden for Bypassing Congress in Deal With Japan
The Biden administration introduced late Monday that it had reached an settlement with Japan over provides of crucial minerals like lithium, cobalt and nickel, that are used to make automotive batteries. The settlement offers...
BlackRock warns that investors are making a mistake by betting on the Fed to...
Traders work on the ground of the New York Stock Exchange (NYSE) in New York City, March 27, 2023.
Brendan McDermid | Reuters
Investors are too assured the Federal Reserve will cut curiosity rates this 12...
How Far Can Regulators Go to Protect Uninsured Deposits?
Amid widespread financial institution failures within the Great Depression, Congress created the Federal Deposit Insurance Corporation in 1933 to insure deposits underneath $2,500. It has elevated that restrict over time, not too long ago...
Tinkering With ChatGPT, Workers Wonder: Will This Take My Job?
“It does seem to be doing something fundamentally different,” stated David Autor, one other M.I.T. economist, who advises Ms. Zhang and Mr. Noy. “Before, computers were powerful, but they simply and robotically did what...
Silicon Valley Bank’s Risks Went Deep. Congress Wants to Know Why.
As clients and buyers started to probe for weak spots within the monetary system, different banks discovered themselves in tumult — together with Credit Suisse in Switzerland, which was taken over, and First Republic,...
U.S. and Japan Reach Deal on Battery Minerals
Katherine Tai, the United States commerce consultant, was anticipated to signal the settlement Tuesday alongside Koji Tomita, the Japanese ambassador to the United States. The United States and Europe are individually negotiating an analogous...
Fed Vice Chair Calls Silicon Valley Bank a ‘Textbook Case of Mismanagement’
“SVB’s failure is a textbook case of mismanagement,” he stated, whereas including that the “failure demands a thorough review of what happened, including the Federal Reserve’s oversight of the bank.”
He famous that Fed supervisors...
Global Economy May Be in a ‘Lost Decade,’ World Bank Warns
Top financial officers have been watching to see if the pressure on the banking system will develop into a important financial headwind that would tip the United States into a recession.
“It definitely brings us...