The U.S. banking system is “sound and resilient” as it maintains strong capital and liquidity conditions, Federal Reserve Chair Jerome Powell told reporters after the policy-making meeting of the Federal Open Market Committee (FOMC). Powell highlighted that the central bank took decisive actions with the Treasury Department and the Federal Deposit Insurance Corporation (FDIC) in…
LIVE 2:15 PM ET: Federal Reserve Chair Powell Holds News Conference After US Fed Policy Decision
U.S. Fed Reserve Chairman Jerome Powell holds a news conference after the release of a Federal Reserve policy decision at 2:15 p.m. ET on March 22. …
Federal Reserve Chair Powell Holds News Conference After US Fed Policy Decision
U.S. Fed Reserve Chairman Jerome Powell holds a news conference after the release of a Federal Reserve policy decision at 2:15 p.m. ET on March 22. …
Fed Hikes Rates by a Quarter Percentage Point Despite Recent Bank Failures
The Federal Reserve raised interest rates by 25 basis points, lifting the benchmark fed funds rate to a range of 4.75 percent and 5 percent, the highest since late 2007. Fed officials say that the “banking system is “sound and resilient,” adding that the recent developments “are likely to result in tighter conditions for households…
NTD Good Morning (Mar. 22): Trump’s Plans to Take Down the ‘Deep State’; White House on Chinese Regime’s Peace Plans for Ukraine
Former President Trump unveils his plan to dismantle what he calls the ‘Deep State’. And demonstrators both for and against Trump’s potential arrest voice their opinions. Chinese regime leader Xi Jinping wraps up his Moscow visit. And the White House weighs in on the CCP’s peace plans for Russia and Ukraine. We’re hours away from…
DeSantis Fights Move Toward Converting Dollar to Central Digital Currency
March 20, 2023
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Central Bank Digital Currency (CBDC)economyFederal ReserveFloridaFlorida Gov. Ron DeSantisPoliticsRegional & State NewsState NewsUS
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PANAMA CITY, Fla.—Gov. Ron DeSantis denounced federal consideration of a Central Bank Digital Currency (CBDC) on March 20 and called for the state legislature to ban it in Florida and for other states to do the same. DeSantis, who is expected to declare his candidacy for president, has used daily press conferences to showcase his…
A Mismanaged Silicon Valley Bank Failure Has Grave Consequences
March 18, 2023
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Business & MarketsBusiness ColumnistsChinaChina Business & Economyeconomic policieseconomyFDICFederal ReserveGlobal ExpansionInternational RelationsInvestmentJanet YellenMarketsOpinionrecessionSilicon Valley Bank CollapseSpecial Topicsstocks
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Commentary This was undoubtedly the week that was. Silicon Valley Bank’s (SVB) failure sent the markets into the worst turmoil since the 2008 financial crisis. And, as I write this Friday morning, St. Patrick’s Day, there are “little fires everywhere” in regional banks that have unsettled markets. Most of them could have been avoided. What…
Americans to Bear Burden of Monetary System’s Gradual Deterioration, Economist Says
Ordinary Americans can expect their wealth to get repeatedly chipped away as the monetary system degrades and requires progressively more intervention by authorities to perpetuate itself, according to an influential author and economist. It may take “a very long time,” however, for the system to actually break, he told The Epoch Times. The recent downfall…
Federal Reserve Pauses Tightening as Emergency Lending Hits $300 Billion
March 17, 2023
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Business & Marketseconomic policieseconomyFederal ReservePoliticsquantitative easingquantitative tighteningUS
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New data reveal that the Federal Reserve balance sheet has surged to its highest level since November as the central bank attempts to avert the contagion of the banking crisis. The Fed’s balance sheet for the week ending March 15 increased $297 billion, hitting a five-month high of $8.639 trillion. Since climbing to an April…
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‘Stay Defensive’: Chief Investment Officer on How to Position Your Portfolio
All eyes are on the Federal Reserve ahead of their closely-watched interest rate decision on March 22. Fed Chair Jerome Powell and company will have to balance fears of more damage to the banking sector with their original mission—to defeat inflation. Markets have priced in an overwhelming likelihood of a 25 basis-point rate hike. How…