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The Latest Breaking News from Jerome Powell

Stocks Edge Lower, Fed On Deck, First Republic Boost, GameStop Soars, Nike Slips - Five Things To Know

Stock futures edge lower as Fed rate decision looms; Fed Chair Powell faces difficult choice between inflation fight and bank stability; First Republic shares extend gains amid capital support plans; GameStop shares soar following first quarterly profit in two years and Nike slips lower as margins pressures cloud Q3 profit…

The Street

US Federal Reserve raises interest rate by a quarter point – business live

US central bankers must decide whether to push on with monetary tightening, or pause rate hikes amid banking turmoil

The Guardian - UK

What to know ahead of the Fed's interest-rate decision

All eyes in the financial and economic world will be laser-focused Wednesday on the Federal Reserve as Chair Jerome Powell tries to balance his fight against inflation against a sudden banking crisis.

Tribune News Service

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The Fed Struggling With Building Renovations Amid Rise Of Inflation

Rise in interest rates as the central bank depends on tax dollars for maintaining building and infrastructure.

Zenger

An economist who correctly predicted the Great Financial Crisis says the world’s central banks have chosen ‘class war over financial stability'

The Fed and other central banks want to bring down inflation at all costs. Is it worth it?

Fortune

The bank collapses triggered by SVB have uncanny parallels to the savings and loan crisis of the 1980s

“The arithmetic behind it was timeless," George Ball of Sanders Morris Harris told Fortune.

Fortune

Federal Reserve Meeting: Rate Hike Likely, But U-Turn Is Near; S&P 500 Gains

The Federal Reserve will likely hike its key interest rate, but this might be the last, amid tighter bank credit. S&P 500 futures were flat.

Investors Business Daily

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To prevent more bank runs, the Fed should pause rate hikes

Inflation is receding, albeit slowly, so there’s no reason to risk more financial tumult. Will the central bank see it that way?

The Guardian - US

DeSantis wants to ban federal digital currency, despite debunking of concerns

TALLAHASSEE — Echoing recent claims by Alex Jones and other right-wing personalities that the federal government wants to create a Communist-style surveillance system to track the spending habits of Americans, Gov. Ron DeSantis on Monday said he wants to ban such activities in Florida.

Orlando Sentinel

Dow Jones Rallies As Powell Looms; Donald Trump Stock Surges Amid Legal Drama

The Dow Jones rallied even as the latest Fed meeting, led by Jerome Powell, looms. First Republic stock plunged. A Donald Trump stock surged.

Investors Business Daily

Elizabeth Warren says Jerome Powell has 'failed' at both of his jobs and shouldn't be Fed chair

Powell's handling of the economy and banking regulations has left a lot to be desired for some critics.

Fortune

Fed's tough challenge: Confront inflation and bank jitters

Still grappling with persistently high inflation, the Federal Reserve faces an entirely new — and in some ways conflicting — challenge as it meets to consider interest rates this week: How to restore calm to a nervous banking system

The Independent UK

Elizabeth Warren says Fed chair ‘failed’ and calls for inquiry into bank collapse

Progressive Democrat launches offensive on politicians on the left and the right who supported Trump-era deregulation of US banks

The Guardian - US

US Fed to balance banking woes, inflation in next rate decision

Washington (AFP) - US central bankers face an unenviable task when they gather in Washington next week: tackling persistent inflation without adding to financial sector turmoil after Silicon Valley Bank's rapid collapse.

AFP

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Investors Business Daily

Dow Jones Futures: Markets Still Fragile After Credit Suisse Deal; First Republic Dives

UBS will buy Credit Suisse, but the split market rally is fragile. First Republic kept diving while the Fed is on tap.

The Guardian - UK

Credit Suisse shares continue to fall despite efforts to calm nerves

Lifelines handed to Swiss bank and US regional bank First Republic fail to ease investor concerns

The Guardian - US

Silicon Valley Bank said it was too small to need regulation. Now it’s ‘too big to fail’

Student debts and underwater mortgages are private burdens, but corporate losses are matters of urgent public interest

Chicago Tribune

Editorial: Don’t let incompetent bank executives derail the Fed’s inflation battle

Democratic U.S. Sen. Elizabeth Warren thinks she knows who to blame for the collapse of Silicon Valley Bank, and the financial fallout that followed.

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Tribune News Service

Editorial: The Fed needs to keep hiking despite SVB turmoil

Last week, after hawkish testimony from Federal Reserve Chair Jerome Powell, markets penciled in a half-point increase in interest rates following the central bank’s next policy meeting. On Friday, the run on Silicon Valley Bank and subsequent fears of a wider crisis changed many investors’ minds. Some bet that the…

Bangkok Post

The fall of SVB: Another predictable bank failure

The run on Silicon Valley Bank (SVB) -- on which nearly half of all venture-backed tech start-ups in the United States depend -- is in part a rerun of a familiar story, but it's more than that. Once again, economic policy and financial regulation have proven inadequate.

Fortune

FedNow is set to launch in July. What the instant payment service could mean for a digital dollar and stablecoins

FedNow’s ability to give customers of traditional banks instant payments detracts from one of the main draws of a central bank digital currency.

The Independent UK

Elizabeth Warren says Republicans handed Fed chairman ‘flamethrower that he aimed at the banking rules’

The Massachusetts Democrat blames a 2018 law that Donald Trump signed weakening financial regulations

Tribune News Service

Elizabeth Warren slams Powell for weak regulation, oversight of SVB

Senator Elizabeth Warren blasted Federal Reserve Chair Jerome Powell for “an astonishing list of failures” that contributed to the collapse of Silicon Valley Bank and Signature Bank in a letter to the Fed chief Wednesday.

The Street

Europe Raises Interest Rates; What Will the Fed Do?

The ECB is 'monitoring current market tensions closely and stands ready to respond as necessary to preserve price stability and financial stability.'

The New Daily

Alan Kohler: The Fed broke something, so the rate hikes are finished

US rate hikes only ever have a gradual impact on households, while in Australia the effect on the household sector is dramatic and immediate.

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