Economy Mar 16 Federal Reserve lent $300 billion in emergency funds to banks in the past week Nearly half the money — $143 billion — went to holding companies for the two major banks that failed over the past week, Silicon Valley Bank and Signature Bank, triggering widespread alarm in financial markets.
Economy Mar 14 U.S. inflation eases but stays high, putting the Federal Reserve in a tough spot U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system.
Economy Mar 14 Inflation eased in February but remains high, putting pressure on Fed U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system.
Economy Mar 13 What to know about the Silicon Valley Bank collapse Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks…
Economy Mar 12 Federal government moves urgently to avert potential banking crisis The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly.
Politics Mar 10 WATCH: Biden hails economic progress after U.S. added 311,000 jobs in February America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation.
Arts Mar 10 Robert Blake, actor acquitted in wife’s killing, dies at 89 An Emmy-winning actor whose career triumphs were later overshadowed by a trial in which he was acquitted of killing his wife, Robert Blake has died at age 89.
Politics Mar 08 Powell says ‘no decision’ on the Federal Reserve’s next move on interest rates Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank's policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation.
Politics Mar 07 WATCH: Fed Chair Jerome Powell says increased rate hikes may continue if economy stays strong The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell told a…
Economy Feb 24 Federal Reserve rate hikes likely to cause a recession, research says Can the Federal Reserve keep raising interest rates and defeat the nation's worst bout of inflation in 40 years without causing a recession? Not according to a new research paper.