Key takeaways: The U.S. government is deploying emergency measures to backstop deposits at Silicon Valley Bank and Signature Bank. The FDIC has granted a systemic…
Posts tagged as “the Federal Reserve”
Key takeaways: The FDIC has stepped in to back all deposits at Silicon Valley Bank, resolving a key uncertainty surrounding the second-largest bank failure in…
The US economy added 311,000 jobs in February, according to the Bureau of Labor Statistics, and President Biden touted this as a sign of his agenda working. The unemployment rate rose to 3.6%, as more Americans began searching for work, and the Fed is monitoring the situation closely to ensure inflation remains in check. President Biden's agenda is having a positive impact on the US economy, and the Fed is likely to take steps to ensure inflation remains in check.
Key takeaways: Investors have been spooked by news of a run at Silicon Valley Bank, leading to a double-digit drop in pre-market trading and a…
Key takeaways: The US economy added 311,000 jobs in February, according to the Department of Labor’s monthly employment snapshot. Leisure and hospitality, retail, health care,…
Chairman Jerome Powell testified before the Senate Banking Committee on Tuesday, warning that the process of getting inflation back down to the central bank's target of 2% could be bumpy. He noted that the Federal Reserve may have to speed up their interest rate hikes to tame high inflation and that it may take time for Americans to see further relief. Investors are waiting to see how the Fed will respond to the current economic climate and are hoping for more clarity on the matter.
The Supreme Court has agreed to review a case that could have a major impact on the Consumer Financial Protection Bureau (CFPB). The case centers around the Appropriations Clause of the Constitution, which states that "no money shall be drawn from the Treasury, but in consequence of appropriations made by law." The CFPB was created in the wake of the 2008 financial crisis and its regulations are now at risk of being overturned by the Supreme Court. The court is expected to hear the case in the spring of 2021.
The Supreme Court has agreed to hear a case involving the Consumer Financial Protection Bureau (CFPB), a federal agency that protects consumers from unlawful financial services practices. The Biden administration had argued that a lower court decision invalidating the way the CFPB is funded threatens its entire mission. The outcome of the case could have far-reaching implications for the CFPB and the regulation of financial services in the US, with the court's ruling expected to be issued in June 2024.