The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks.
The White House says President Biden took “decisive and forceful actions” to keep bank failures from spreading but he’s not out of the woods yet.
Tesla billionaire Elon Musk has sent a warning to U.S. president Joe Biden after the Federal Reserve raised interest rates again…
The bank was using an incorrect model as it assessed its own risks amid rising interest rates, and spent much of 2022 under a supervisory review.
Markets this year are roiling, uncertainty abounds and the U.S. government has had to step in to rescue two large American banks in recent days
An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse.
Last week’s collapse of Silicon Valley Bank and its subsequent takeover by federal regulators sent tremors through US markets.
“We don’t know yet whether the consequences of easy money and regulatory changes will cascade,” in the regional banking sector, said BlackRock’s CEO.
Biden administration officials announced a series of emergency moves to reassure the public of the soundness of the financial system.
The crisis at startup lender Silicon Valley Bank, where stablecoin issuer Circle held a part of its USDC cash reserves, is threatening to wipe out the second-largest stablecoin by market capitalization…