Banks ramp up use of new Fed facility created in crisis
Federal Reserve Board Chair Jerome Powell holds a news conference after the Fed raised interest rates by a quarter of a percentage point following a...
Bitcoin posts best week since January 2021
Bitcoin has recovered nearly all of its 2022 losses after cryptocurrencies resumed their rally on Friday, climbing above $26,000 for the second time this week....
Charles Schwab shares drop 12% even as the firm defends financial position
Charles Schwab shares fell on Monday even as the financial institution defended its portfolio, easing fears of a banking crisis in the aftermath of tech-focused...
Silicon Valley Bank fails to find buyer as run on bank outpaced sale process
SVB Financial, parent of Silicon Valley Bank, was unable to find a buyer before a bank run caused regulators to shut it down. Sources told...
As credit card debt hits new high, households near ‘breaking point’
‘Increase in delinquencies is something to watch’ Delinquencies are already on the rise, TransUnion found. A delinquency is a payment that’s 60 days or more...
David Einhorn says investors should be ‘bearish on stocks and bullish on inflation’
Greenlight Capital’s David Einhorn said Wednesday he’s keeping his negative stance on the stock market as inflation and interest rates could shoot higher. “I think...
Amid stubborn inflation, 60% of Americans live paycheck to paycheck
Despite higher prices, consumers are still spending, although not as much as they were a year ago, which is giving their budgets some breathing room....
1 in 6 retirees are considering a return to the workforce
Mixetto | E+ | Getty Images For some retirees, heading back to work has emerged as an aspiration. Roughly 1 in 6 retired Americans say...
54% of Americans are dipping into savings to pay for everyday expenses
Inflation is still taking a hefty toll on households, recent reports show. Prices continued their upward momentum in January, rising 0.5% for the month and...
U.S. credit card debt jumps 18.5% and hits a record $930.6 billion
For most Americans, inflation and rising interest rates are a one-two punch. On the heels of another rate hike this week by the Federal Reserve,...