The Latest Breaking News from the Federal Reserve

The uninsured deposits from 11 big banks into First Republic Bank are seen as a vote of confidence in the San Francisco-based firm with $176.4 billion in deposits.

First Republic Bank shored up its liquidity on Thursday as 11 banks provided $30 billion in deposits.

Treasury chief tells lawmakers customers ‘can feel confident that their deposits will be there when they need them’.

The Fed will likely go ahead with a smaller interest rate hike next week to stabilize the financial sector. This could give growth stocks some relief from the continued sell-off. Therefore, it could be wise to buy fundamentally strong growth stocks Salesforce (CRM), Extreme Networks (EXTR), and Cars.com (CARS). Read…

Despite the banking industry crisis, the Fed is expected to launch another rate hike next week as it remains committed to bringing inflation down. Therefore, fundamentally weak stocks Snap (SNAP), Peloton Interactive (PTON), and Tilray Brands (TLRY) might be best avoided as they might plunge further. Keep reading.

"America’s larger banks stand united with all banks to support our economy and all of those around us," U.S. lenders said in a group statement Thursday.

Stocks futures slide as bank crisis concerns linger; Credit Suisse grabs $54 billion lifeline from Swiss National Bank; European Central Bank rate decision on deck as financial sector trembles; First Republic shares slump amid bank sale reports and FedEx earnings up next as cost-cutting accelerates.

Whether the economy slumps this year or not, California shouldn’t feel as much pain as the rest of the country.

The legendary investor who anticipated the 2008 financial crisis believes that the current panic is not necessary.