Federal Reserve
Economy
Biden Promises Stricter Banking Regulations After SV Bank Collapse
On Monday, United States President Joe Biden sought to reassure Americans that the banking system is "safe" following the collapse of Silicon Valley Bank (SVB).
The president also promised to introduce new banking regulations and made further assurances to United...
Business
The US Says Money in Failed Silicon Valley Bank is Safe
The US government has said that people and businesses who have money deposited with failed US bank Silicon Valley Bank (SVB) will be able to access all their cash from Monday.
A statement from the US Treasury, the Federal Reserve...
Economy
US Fed Interest Rate Hike is Highest in Nearly 30 Years
The US Federal Reserve's decision to raise interest rates by three quarters of a percent on Wednesday—the biggest hike since 1994—was designed to rein in the country's overheated economy and fast-rising inflation, which have led to price spikes market...
Business
JP Morgan Boss Jamie Dimon Warns of Economic “Hurricane”
Jamie Dimon, chairman and chief executive of JP Morgan Chase, described the challenges facing the US economy as akin to a “hurricane” down the road.
Dimon’s comments come a day after US President Joe Biden met Federal Reserve Chairman Jerome...
Economy
Calamos CEO John Koudounis: Fed’s Challenge to Secure “Soft Landing”
Calamos President & CEO John Koudounis cautioned on the need for a "soft landing" for the economy as the Federal Reserve (Fed) is widely expected to raise interest rates on Wednesday.
The Fed is expected to raise interest rates by...
Business
US Fed Raises Interest Rates for First Time Since 2018 to Stem Inflation
The US Federal Reserve announced a quarter-percentage point interest rate increase on Wednesday, nearly two years to the day the central bank slashed its benchmark federal funds rate to zero amid the recession triggered by the COVID-19 pandemic.
"It's clearly...
Economy
Is the U.S. Dollar Going Digital?
As the U.S. dollar is entering the crypto age, the U.S. government is considering the tremendous change the digital dollar would bring.
According to a Bloomberg report, the guidance will come through three pending reports related to public and private...