May 03 WATCH: Federal Reserve Chair Jerome Powell speaks on latest interest rate hike By Christopher Rugaber, Associated Press The Fed's efforts have only partly succeeded in taming the worst inflation bout in four decades, and the surge in rates has contributed to the collapse of three large banks and turmoil in the banking industry. Continue reading
May 03 WATCH: White House holds news briefing as U.S., Mexican officials agree on border restrictions By Colleen Long, Associated Press U.S. and Mexican officials have agreed on new immigration policies meant to deter illegal border crossings while also opening up other pathways ahead of an expected increase in migrants following the end of pandemic restrictions next week. Continue reading
Apr 28 Watch 6:08 Fed blames mismanagement and oversight failures for Silicon Valley Bank collapse By William Brangham, Dorothy Hastings The Federal Reserve issued a stinging report on the historic collapse of Silicon Valley Bank. The analysis notes that while the collapse was a “textbook case of mismanagement” by bank officers, the Fed said its regulators missed clear danger signs… Continue watching
Apr 14 Top Fed official sees need for more interest rate increases By Christopher Rugaber, Associated Press A senior Federal Reserve official said Friday that there has been little progress on inflation for more than a year and that more interest rate hikes are needed to get prices under control. Continue reading
Apr 12 Inflation eased in March but core prices remain stubbornly high By Christopher Rugaber, Associated Press U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices for nearly two years. Continue reading
Apr 07 Employers added 236,000 jobs in March, marking solid growth in labor market By Paul Wiseman, Associated Press Friday’s government report suggested that the economy and the job market remain on solid footing despite nine rate hikes imposed over the past year by the Fed. Continue reading
Mar 31 This key inflation measure slowed sharply in February By Paul Wiseman, Associated Press It's an encouraging sign in the Fed's yearlong effort to cool price pressures through steadily higher interest rates. Continue reading
Mar 28 Federal Reserve considering stronger bank rules after SVB failure, official says By Christopher Rugaber, Associated Press The Federal Reserve’s bank supervisors informed Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said, but the bank’s managers failed to take the steps necessary… Continue reading
Mar 22 WATCH: Federal Reserve Chair Powell gives update after raising interest rate amid banking turmoil By Christopher Rugaber, Associated Press The Federal Reserve is grappling with a hazier economic picture, clouded by turmoil in the banking industry and still-high inflation, just as it meets to decide whether to keep raising interest rates or declare a pause. Continue reading
Mar 16 Federal Reserve lent $300 billion in emergency funds to banks in the past week By Christopher Rugaber, Associated Press 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. Continue reading