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The Latest Breaking News from US Federal Reserve

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…

Tribune News Service

4 big numbers that explain the banking crisis—and why it may be passing

The Feds did their job, and banks have plenty of cash.

Fortune

US banks flock to Federal Reserve highlighting 'scale of stress in US banking system'

First Republic is the fourth bank in a week to show signs of financial distress. What does this mean for Australian interest rates – and mortgages?

ABC News

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LOCALIZE IT: Banks and our money after 2 rapid-fire failures

EDITORS/NEWS DIRECTORS:

The Independent UK

First Republic gets new rescue as fears percolate

Inflationary pressures are boosting rates, which in turn are exposing cracks in the foundation of the global financial system.

Axios

Fed's emergency bank lending soars to new record

The report sheds light on banks' demand for short-term cash in the early days of the fallout from the Silicon Valley Bank crisis.

Axios

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.

Bangkok Post

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Fed lent $300B in emergency funds to banks in the past week

Cash-short banks have borrowed about $300 billion in emergency funding from the Federal Reserve in the past week, the Fed announced

The Independent UK

FedNow is set to launch in July. What the instant payment service could mean for a digital dollar and stablecoins

FedNow’s ability to give customers of traditional banks instant payments detracts from one of the main draws of a central bank digital currency.

Fortune

Elizabeth Warren says Republicans handed Fed chairman ‘flamethrower that he aimed at the banking rules’

The Massachusetts Democrat blames a 2018 law that Donald Trump signed weakening financial regulations

The Independent UK

Lawmakers are split on how to respond to the recent bank failures

Days after the failure of two regional banks shook the financial industry, lawmakers say they want answers but disagree on what role Congress should play right now.

WEKU

Credit Suisse and SVB banking crises are 'not a repeat of 2008'

The sudden collapse of Silicon Valley Bank and renewed crisis at Credit Suisse are raising fears of another global financial crisis, but most experts agree that we shouldn't worry too much … yet.

ABC News

Elizabeth Warren slams Powell for weak regulation, oversight of SVB

Senator Elizabeth Warren blasted Federal Reserve Chair Jerome Powell for “an astonishing list of failures” that contributed to the collapse of Silicon Valley Bank and Signature Bank in a letter to the Fed chief Wednesday.

Tribune News Service

3 Stocks That Can Help You Make Enough to Retire Early

The recent regional bank collapses, price surges, and fears of an economic slowdown have heightened market volatility. Against this backdrop, fundamentally sound dividend stocks Walmart (WMT), PepsiCo (PEP), and STMicroelectronics (STM) might be solid buys that can make one enough to retire early. Read on….

StockNews.com

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Axios

How banking turmoil is changing the economic outlook

A handful of large, troubled U.S. regional banks may well accomplish what the mighty Federal Reserve couldn't on its own.

StockNews.com

1 Dividend ETF to Buy Amid Uncertain Market Conditions

Although consumer prices have eased slightly, the job market remains tight. With concerns over the interest rate hikes ahead of the next FOMC meeting and economic uncertainty caused by the bank failures, the Vanguard Dividend Appreciation ETF (VIG) could be a solid buy to generate a steady income stream. Read…

The Independent UK

Average long-term US mortgage rates come back down to 6.6%

The average long-term U.S. mortgage inched back down this week after five straight weeks of increases, good news for homebuyers as the housing market’s all-important spring buying season gets underway

StockNews.com

Steer Clear of These 4 Auto Stocks in 2023

Although inflation continues to ease, it remains elevated, impacting new vehicle sales. Concerns over aggressive rate hikes and impending recession are expected to keep the auto industry under pressure. Therefore, it could be best to avoid fundamentally weak stocks NIO (NIO), Lucid Group (LCID), Rivian Automotive (RIVN), and Workhorse Group…

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Salon

Top GOPer: No need for tougher bank rule

Critics say Mike Crapo's law exempting SVB and others from stricter requirements led to collapse

StockNews.com

3 Best-in-Class Growth Stocks to Buy Now

The Fed will likely go ahead with a smaller interest rate hike next week to stabilize the financial sector. This could give growth stocks some relief from the continued sell-off. Therefore, it could be wise to buy fundamentally strong growth stocks Salesforce (CRM), Extreme Networks (EXTR), and Cars.com (CARS). Read…

The Independent UK

Applications for jobless aid in U.S. fall last week

Fewer Americans applied for jobless claims last week as the labor market continues to thrive despite the Federal Reserve’s efforts to cool the economy and tamp down inflation

The Conversation

US regulators avoided a banking crisis by swift action following SVB's collapse – but the cracks it exposed continue to weaken the global financial system's foundation

U.S. regulators’ swift reaction to the collapse of Silicon Valley Bank and two other lenders partially restored calm to markets, but concerns remain over the stability of the global financial system.

Fortune

A Nobel-winning economist dissects SVB's collapse

Douglas Diamond warned in October that the Fed’s policies of raising rates at a virtually unprecedented pace would trigger dangerously big losses in the bond portfolios of companies and banks.

Tribune News Service

Editorial: SVB mess demands a rethink on government bailouts

The demise of Silicon Valley Bank has put the U.S. government into an uncomfortable position, backstopping depositors like never before to prevent a broader and potentially devastating bank run.

Fortune

Nobel Prize-winning economist debunks 3 misconceptions about SVB's collapse—and explains what went wrong

Douglas Diamond says SVB violated the most basic rule of banking.

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