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The Latest Breaking News from Jerome Powell

Federal Reserve raises key rate by quarter-point despite banking industry turmoil

Fed Chairman Jerome Powell seeks to reassure Americans that their money was safe after the failure of Silicon Valley Bank, Signature Bank as the Fed continues to fight inflation.

Chicago Sun-Times

US raises interest rates despite troubles in banking industry

Stocks fell sharply Wednesday after the Federal Reserve indicated the end may be near for its economy-crunching hikes to interest rates, but it also doesn’t expect to cut rates anytime soon despite Wall Street’s hopes.

France 24

Inflation Rate Goes Up By A Quarter Percent Despite A Strong Job Market

The Federal Reserve has increased the interest rate by a quarter percent as the job market remains strong.

Zenger

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US Fed announces latest interest hike in wake of banking turmoil

The Fed has continued its cycle of rate increases aimed at stemming inflation but indicated pause could be on horizon.

Al Jazeera

Bitcoin teeters near $27,000 as Fed raises interest rates and Powell says cuts unlikely in 2023

The cryptocurrency jumped above $28,000 earlier this week.

Fortune

Powell stresses commitment to cooling prices as Fed hikes rates

The Federal Reserve raised interest rates at a ninth straight meeting and indicated there may be more hikes to come in a clear sign it’s confident that its bid to quell inflation won’t deepen a nascent banking crisis.

Tribune News Service

Federal Reserve bows to bank-crisis fears with quarter-point rate hike, letting up a little in its fight against inflation

The Federal Reserve raised interest rates by a quarter-point on March 22, 2023, bowing to market expectations that it would temper its aggressive program of rate hikes amid a still-brewing banking crisis.

The Conversation

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US Federal Reserve raises interest rates a quarter-point amid banking turmoil

Fed announces rise to a range of 4.75% to 5% – its ninth consecutive rate rise and the highest rate since 2007

The Guardian - US

Watch: Jerome Powell holds news conference after Federal Reserve raises interest rates

Watch as Jerome Powell holds a news conference after the US Federal Reserve announced that it was to hike interest rates on Wednesday, 22 March.

The Independent UK

The Fed raises interest rates again despite the stress hitting the banking system

The Federal Reserve raised its benchmark interest rate by a quarter percentage-point in an effort to curb high inflation. Some had called for the Fed to wait after two recent bank failures.

WEKU

US Federal Reserve raises interest rate by a quarter point – business live

US central bankers must decide whether to push on with monetary tightening, or pause rate hikes amid banking turmoil

The Guardian - UK

What to know ahead of the Fed's interest-rate decision

All eyes in the financial and economic world will be laser-focused Wednesday on the Federal Reserve as Chair Jerome Powell tries to balance his fight against inflation against a sudden banking crisis.

Tribune News Service

The Fed Struggling With Building Renovations Amid Rise Of Inflation

Rise in interest rates as the central bank depends on tax dollars for maintaining building and infrastructure.

Zenger

An economist who correctly predicted the Great Financial Crisis says the world’s central banks have chosen ‘class war over financial stability'

The Fed and other central banks want to bring down inflation at all costs. Is it worth it?

Fortune

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Fortune

The bank collapses triggered by SVB have uncanny parallels to the savings and loan crisis of the 1980s

“The arithmetic behind it was timeless," George Ball of Sanders Morris Harris told Fortune.

The Guardian - US

To prevent more bank runs, the Fed should pause rate hikes

Inflation is receding, albeit slowly, so there’s no reason to risk more financial tumult. Will the central bank see it that way?

Orlando Sentinel

DeSantis wants to ban federal digital currency, despite debunking of concerns

TALLAHASSEE — Echoing recent claims by Alex Jones and other right-wing personalities that the federal government wants to create a Communist-style surveillance system to track the spending habits of Americans, Gov. Ron DeSantis on Monday said he wants to ban such activities in Florida.

Fortune

Elizabeth Warren says Jerome Powell has 'failed' at both of his jobs and shouldn't be Fed chair

Powell's handling of the economy and banking regulations has left a lot to be desired for some critics.

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The Independent UK

Fed's tough challenge: Confront inflation and bank jitters

Still grappling with persistently high inflation, the Federal Reserve faces an entirely new — and in some ways conflicting — challenge as it meets to consider interest rates this week: How to restore calm to a nervous banking system

The Guardian - US

Elizabeth Warren says Fed chair ‘failed’ and calls for inquiry into bank collapse

Progressive Democrat launches offensive on politicians on the left and the right who supported Trump-era deregulation of US banks

The Guardian - UK

Credit Suisse shares continue to fall despite efforts to calm nerves

Lifelines handed to Swiss bank and US regional bank First Republic fail to ease investor concerns

The Guardian - US

Silicon Valley Bank said it was too small to need regulation. Now it’s ‘too big to fail’

Student debts and underwater mortgages are private burdens, but corporate losses are matters of urgent public interest

Tribune News Service

Editorial: The Fed needs to keep hiking despite SVB turmoil

Last week, after hawkish testimony from Federal Reserve Chair Jerome Powell, markets penciled in a half-point increase in interest rates following the central bank’s next policy meeting. On Friday, the run on Silicon Valley Bank and subsequent fears of a wider crisis changed many investors’ minds. Some bet that the…

Chicago Tribune

Editorial: Don’t let incompetent bank executives derail the Fed’s inflation battle

Democratic U.S. Sen. Elizabeth Warren thinks she knows who to blame for the collapse of Silicon Valley Bank, and the financial fallout that followed.

Bangkok Post

The fall of SVB: Another predictable bank failure

The run on Silicon Valley Bank (SVB) -- on which nearly half of all venture-backed tech start-ups in the United States depend -- is in part a rerun of a familiar story, but it's more than that. Once again, economic policy and financial regulation have proven inadequate.

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