The Latest Breaking News from Michael Barr

"We should remain humble about how risks can arise and continue our work to ensure that banks are resilient," said Fed supervisory head Michael Barr.

Federal Reserve Chair Jerome Powell will have an opportunity this week to clarify what many found a confusing message on the path of interest rates, with the added task of assuring Democrats and Republicans the economy is on track.

The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.

The former top executives of two failed banks will testify before Congress this month

Silicon Valley Bank (SVB) was a regional bank located in the San Francisco Bay area. Founded in 1983, it specialized in granting loans to startup tech firms. According to the company’s website, in 2022, SVB funded nearly half of all venture-backed tech- and healthcare-related IPOs. Some of its ...

Think ChatGPT, but for the weird things Jerome Powell says every couple months. It’s “a large language model tuned to central bank speak.”

The Federal Reserve admitted it should have taken more action before Silicon Valley Bank collapsed on March 10.

Washington (AFP) - The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank (SVB) last month.

Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday

The proposals come in an internal review that found looser rules were a key culprit behind Silicon Valley Bank's collapse.

Washington (AFP) - The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank (SVB) last month.