GOP senators press Yellen on the lack of a Social Security plan in Biden’s budget
During an appearance before lawmakers on the Senate’s Finance Committee, Treasury Secretary Janet Yellen was repeatedly pressed in often heated terms by Republicans about the...
Central Banks Must Stay the Course on Rate Hikes, OECD Says
(Bloomberg) — The Federal Reserve and the European Central Bank must press ahead with interest-rate increases and not be blown off course by the fragility...
Surge in Fed recourse clouds bank rescue narrative By Investing.com
© Reuters By Geoffrey Smith Investing.com — U.S. banks flocked to the Federal Reserve’s lending facilities last week as never before, damping hopes that the...
Bond Market Left in Dark Over ECB’s Next Move Braces for Swings
(Bloomberg) — If there’s one lesson from the European Central Bank’s latest monetary policy meeting, it’s that bond market volatility is here to stay. Most...
Ackman Concerned About ‘Contagion Risk’ Spiraling Out of Control
(Bloomberg) — Spreading the risk of financial contagion to achieve “a false sense of confidence” in First Republic Bank is “bad policy”, Pershing Square’s Bill...
First Republic Sinks 33% as Big Bank Rescue Fails to Halt Rout
(Bloomberg) — First Republic Bank shares tumbled again on Friday, closing out their worst week ever, as sentiment around the lender remained fragile even after...
Credit Suisse shares tumble again, sentiment remains fragile By Reuters
© Reuters. A logo is seen on the headquarters of Swiss bank Credit Suisse on Paradeplatz in Zurich, Switzerland March 16, 2023. REUTERS/Denis Balibouse By...
Executives Yank Money From Banks as Some Deposits Look Riskier
(Bloomberg) — With Credit Suisse Group AG having wobbled this week and a handful of regional US banks collapsing, company executives are getting more concerned...
Banks Borrow $164.8 Billion From Fed in Rush to Backstop Liquidity
(Bloomberg) — Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains...
Kevin O’Leary says the US government has ‘nationalized’ the American banking system. Here’s what he likes instead
‘I would never put my money into a bank stock ever again’: Kevin O’Leary says the US government has ‘nationalized’ the American banking system. Here’s...