Former Federal Reserve Bank of Dallas President Robert Kaplan said that the regional banking crisis may be more serious than commonly believed and called for the central bank to pause its rate hiking cycle to give policymakers more time to address the risks. Kaplan made the remarks in an interview on Bloomberg TV, in which…
Regional Bank Crisis Is ‘More Serious’ Than We Understand: Ex-Fed President Kaplan
May 3, 2023
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Investors Warn of More Economic Pain to Come After First Republic Failure
May 2, 2023
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Business & Marketscommercial real estateCompanieseconomic policieseconomyFirst Republic BankinflationInvestmentMarketsrecessionstocksU.S. financial systemUSUS News
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Top investors at the annual Milken conference have warned of more economic pain to come after the collapse of First Republic Bank. Attendees at the conference said that the third seizure of a U.S. regional bank by the Federal Deposit Insurance Corporation (FDIC) since March is threatening to constrain credit and accelerate the path toward…
ANALYSIS: How the Current Banking Crisis Is Different From the Financial Crisis of 2008
May 2, 2023
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bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
ANALYSIS: How the Current Banking Crisis Differs From the Financial Crisis of 2008
May 2, 2023
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bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
ANALYSIS: Comparing Today’s Banking Crisis to the 2008 Meltdown
May 2, 2023
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bank crisisBusiness & MarketsCompanieseconomic policieseconomyFederal ReserveFirst Republic BankInvestmentpersonal financerecessionSignature BankSilicon Valley Bank CollapseUS
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News Analysis As the current banking crisis spreads, with First Republic Bank becoming the third major U.S. bank failure of 2023, many are now seeing echoes of what has come to be known as the “Great Financial Crisis” of 2008–09. First Republic’s slow-motion collapse and ultimate acquisition by JPMorgan Chase on May 1 follows the…
Further Fed Rate Hikes Will ‘Trigger Severe Recession,’ Warns Musk
Industrialist Elon Musk is warning that the United States is already in a recession that could turn “severe” with even more rate hikes by the Fedeeral Reserve, pointing to bank failures as proof of a stressed-out economy. “Fed data has too much latency. Mild recession is already here,” Musk stated in a tweet on April 30. The…
Regional Bank Shares Take Beating After First Republic Collapses
May 1, 2023
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Business & MarketsCompanieseconomic policieseconomyFDICFirst Republic BankinflationInvestmentJPMorgan ChaseMarketsPolicies & ImpactsrecessionUS
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U.S. regional bank shares took a beating after the collapse of First Republic and its takeover by JP Morgan Chase & Co. The Federal Deposit Insurance Corporation (FDIC) seized First Republic Bank in the second-largest bank failure in American history in what is also the third regional bank to fail this year. Shares of several…
Cash Use Rises as Households Struggle to Cope With High Inflation
Cash payments have made a comeback as households struggle to cope with high inflation, according to a new study. After decades of falling cash use, the impact of the rapid inflation growth has been reversing the trend toward digital. Credit Karma and The Harris Poll conducted a survey last month, which showed that 53 percent of…
Productivity Slows to a Crawl as Recession Sets In
Commentary For reasons I cannot explain, there was widespread shock at the new GDP numbers for the first quarter. They revealed a 1.1 percent growth rate, which is a crawl and much lower than the experts anticipated. And the new data points to an inexorable reality. Certainly the recession will be obvious by the summer…
Wall Street Opens Lower as Amazon Drags, Inflation Worries Persist
April 28, 2023
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Business & MarketsCompanieseconomic policieseconomyinflationMarketsMedia & Big TechrecessionstocksUS
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Wall Street’s main indexes opened lower on Friday after Amazon warned about a slowdown in its cloud business, while strong inflation data cemented bets that the Federal Reserve will hike interest rates again next week. The Dow Jones Industrial Average fell 28.73 points, or 0.08 percent, at the open to 33,797.43. The S&P 500 opened…
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