Apr 11 Borrowing for small businesses further constrained by interest rates, bank collapses By Mae Anderson, Anne D'Innocenzio, Associated Press Borrowing for small businesses was already constrained due to rising interest rates. Following the recent Silicon Valley Bank collapse, some banks may be forced to tighten credit further, since they’re seeing an outflow of deposits. Continue reading
Apr 11 WATCH: Yellen holds news conference during worrying IMF-World Bank spring meetings By Paul Wiseman, Fatima Hussein, Associated Press U.S. Treasury Secretary Janet Yellen held a news conference Tuesday as the outlook for the world economy has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. 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 Credit Suisse shares soar after European Central Bank offers lifeline By Jamey Keaten, Danica Kirka, Associated Press Credit Suisse shares surged after the Swiss central bank agreed to loan the bank up to 50 billion francs ($54 billion) to bolster confidence in the country's second-biggest lender following the collapse of two U.S. banks. Continue reading
Mar 16 European Central Bank backs big interest rate hike despite global bank chaos By David McHugh, Associated Press The European Central Bank has carried through with a large interest rate increase, brushing aside predictions it might dial back as U.S. bank collapses and troubles at Credit Suisse feed fears about the impact of higher rates on the global… Continue reading
Mar 14 U.S. inflation eases but stays high, putting the Federal Reserve in a tough spot By Christopher Rugaber, Associated Press 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. Continue reading
Mar 14 Stocks rally on Wall Street following inflation report, bank failures By Stan Choe, Associated Press The S&P 500 was 1.5 percent higher in early trading after a report showed inflation is still high but heading lower. Stocks of smaller and mid-sized banks recovered some of their prior plunges caused by worries that customers could yank… Continue reading
Mar 08 Powell says ‘no decision’ on the Federal Reserve’s next move on interest rates By Christopher Rugaber, Associated Press 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. Continue reading
Mar 02 Jobless claims fall for 3rd straight week, raises specter of more interest rate hikes By Matt Ott, Associated Press The number of people applying for unemployment benefits in the U.S. fell for third straight week. Continue reading
Feb 07 Powell predicts ‘significant’ inflation drop but job market strength means more rate hikes By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell said Tuesday that last week's blockbuster U.S. jobs report showed it would likely take time to curb high inflation but that he expects a "significant decline" in inflation this year. Continue reading