Tag: economic policies

Wall Street, Banks Rise After SVB Sale to First-Citizens

March 27, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment

U.S. futures shot higher early Monday, with bank stocks mostly gaining after the Federal Deposit Insurance Corp. said it had agreed to the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. Futures for the Dow Jones Industrial Average and S&P 500 each climbed 0.8 percent early Monday. The FDIC…

Read More

Recent Banking Turmoil Brings America Closer to Recession: Fed’s Kashkari

March 27, 2023
bankingBusiness & Marketseconomic policieseconomyFedNeel KashkarirecessionUSUS News
0 Comment

The latest turmoil in the banking sector could bring the United States closer to a recession, Minneapolis Fed President Neel Kashkari has warned. Speaking on CBS’s “Face the Nation” on March 26, Kashkari was asked whether the collapse of Silicon Valley Bank (SVB) and regional lender Signature Bank, as well as the recent rescue takeover of Credit Suisse…

Read More

Dollar Steady as Banking Worries Keep Investors on Edge

March 27, 2023
Business & Marketscryptocurrencyeconomic policieseconomyForexglobalinflationMarketsrecessionstocks
0 Comment

SINGAPORE/LONDON—The dollar was steady on Monday, while the yen hovered near its seven-week peak as investors assessed moves made by authorities and regulators to rein in worries over the global banking system. The dollar index, which measures the currency against six rivals, rose 0.06 percent at 103.05, having gained 0.5 percent on Friday amid banking…

Read More

Oil Gains Some Ground as Investors Assess Banks, Russia

March 27, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
0 Comment

LONDON—Oil prices rose on Monday as investors assessed efforts by authorities to rein in concerns over the global banking system while Russian President Vladimir Putin’s plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe. Brent crude futures were up 30 cents, or 0.4 percent, to $75.29 a barrel at 0900 GMT….

Read More

Global Financial Risks Have Risen Amid Bank Turmoil, IMF Chief Warns

March 27, 2023
Business & Marketseconomic policieseconomyfinancialIMF - International Monetary Fundinterest ratesInternationalInvestmentMarketsSilicon Valley BankUSWorld
0 Comment

The recent collapse of Silicon Valley Bank (SVB) and the rescue of Credit Suisse by rival UBS show that risks to global financial stability have increased, International Monetary Fund (IMF) chief Kristalina Georgieva said at a conference in Beijing on March 26. Speaking at the 2023 China Development Forum in the capital, Georgieva warned that rapid interest rate hikes by the Federal Reserve combined with…

Read More

House Financial Services Chair Warns Against Quick Regulatory Fixes For Banking Crisis

March 25, 2023
bank regulationsBusiness & Marketscongresseconomic policieseconomyHouse Financial Services CommitteeinflationInvestmentMarketsPolicies & ImpactsPoliticsrecessionUSUS News
0 Comment

The House Financial Services Committee Chairman Patrick McHenry (R-N.C.), warned against quick regulatory fixes for the banking crisis. The congressman from North Carolina told the American Bankers Association Washington Summit on March 22, we “cannot legislate confidence” when it comes to the banking sector. He stated that it was too early to see if any new…

Read More

Banking Crisis Is How It Starts, Recession Is How It Ends

March 25, 2023
bankingBusiness & MarketsBusiness ColumnistsCompaniescrisiseconomic policieseconomyinflationMarketsrecessionUSUS News
0 Comment

Commentary As the Fed tightens monetary policy, a banking crisis is historically the first evidence that something is breaking. As noted recently in “Not QE,” Last week, amid a rash of bank insolvencies, government agencies took action to stem a potential banking crisis. The FDIC, the Treasury, and the Fed issued a Bank Term Lending…

Read More

The Fed’s Dilemma: Fight Inflation or Save Failing Banks

March 25, 2023
bank failuresbanking crisisBusiness & MarketsCredit SuisseDeutsche Bankeconomic policieseconomyinflationMarketsmonetary policypersonal financestocksSVB Collapsethe fedUS
0 Comment

The Federal Reserve has painted itself into a corner with its fight against inflation, and some experts say it now has no coherent plan for how to get out of it. Having kept interest rates near zero for more than a decade and expanded its balance sheet to $9 trillion to stimulate the economy, the…

Read More

Fed’s Bullard Calls for Higher Rates as Balance Sheet Jumps $100 Billion, Depositors Pull Funds From Banks

March 24, 2023
banking crisisBusiness & Marketseconomic policieseconomyFederal ReserveinflationJames BullardPolicies & ImpactsUSUS News
0 Comment

The Federal Reserve must keep raising interest rates in its inflation fight as the U.S. banking turmoil will subside, says St. Louis Fed Bank President James Bullard. Speaking to the Greater St. Louis Inc. community organization on Friday, Bullard explained that the central bank must lift the benchmark fed funds rate (FFR) higher than previously…

Read More

How Will Australia Pay for Its $386 Billion Nuclear Sub Deal

March 24, 2023
AUKUSAustraliaAustralian budgetBusiness & MarketsChinaChina-Australia Relationseconomic policiesInternationalInternational Relationsnuclear submarinesOpinionViewpointsWorld
0 Comment

Commentary Will the AUKUS nuclear subs consume the Australian budget? It’s a good question. The expenditure is huge in Australian terms. The total deal is currently worth $386 billion (US$260 billion) and will be spread out over 30 years. So, on average, it will cost $12 billion a year. This is about one-third of the…

Read More