The US central bank has said it failed to act with “sufficient force and urgency” in its oversight of Silicon Valley Bank, which collapsed last month in the country’s biggest bank failure since 2008. The conclusion is one of the main findings from the Federal Reserve’s investigation of the episode. It sparked global fears about […]
Tag: Federal Reserve
Is the US Fed to blame for World Recession?
Markets are a mess, and not just in the United States, where the three major stock indexes are down more than 20% each from their highs. “Everything is starting to take a big hit,” says Edmund Shing, the global chief investment officer at BNP Paribas Wealth Management. Around the world, markets are reeling with unpredictability. […]
Fed raises interest rate .75%; will recession follow?
The Federal Reserve made history on Wednesday, approving a third consecutive 75-basis-point hike in an aggressive move to tackle the white-hot inflation that has been plaguing the US economy. The supersized hike, which was unfathomable by markets just months ago, takes the central bank’s benchmark lending rate to a new target range of 3%-3.25%. That’s […]
209,000 Jobs Added In Month Of July, Well Above Projections
The U.S. economy continued a strong summer, adding 209,000 jobs in July while the unemployment rate fell to 4.3 percent, the lowest since March 2001, according to a government report Friday. Economists surveyed by Reuters had expected the report to show growth of 183,000; the unemployment rate met expectations. A more encompassing rate that includes […]
Trump Tanks The Dollar
The dollar fell on Wednesday after President Donald Trump criticized its recent strength, but analysts expect the greenback to bounce back soon. Trump said the currency was “getting too strong” in an interview with The Wall Street Journal. “I think our dollar is getting too strong, and partially that’s my fault because people have confidence […]