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The Latest Breaking News from Janet Yellen

US raises interest rates despite troubles in banking industry

Stocks fell sharply Wednesday after the Federal Reserve indicated the end may be near for its economy-crunching hikes to interest rates, but it also doesn’t expect to cut rates anytime soon despite Wall Street’s hopes.

France 24

Powell stresses commitment to cooling prices as Fed hikes rates

The Federal Reserve raised interest rates at a ninth straight meeting and indicated there may be more hikes to come in a clear sign it’s confident that its bid to quell inflation won’t deepen a nascent banking crisis.

Tribune News Service

Why everybody's talking about deposit insurance

Regulators are setting a precedent with potentially long-lasting consequences and thin legal authority.

Axios

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Asian shares advance on back of Wall Street rally

Asian shares are higher after stocks rallied on Wall Street, including the banks most beaten down by the industry's crisis

The Independent UK

Yellen says banking stabilising, US may intervene more if needed

WASHINGTON - The United States banking sector is "stabilizing" after the recent failures of Silicon Valley Bank and Signature Bank rattled the industry, Treasury Secretary Janet Yellen told a lenders' conference Tuesday, as leaders seek to calm global worries.

Bangkok Post

Janet Yellen says the U.S. is ready to protect depositors at small banks if required

The Treasury Secretary said the administration is committed to protecting the U.S. banking system and customers who trust their money to it.

WEKU

Biden weighs in on the battle for the soul of Wall Street. Here’s how the president’s first veto will shape the way Americans’ money is managed

ESG investing is inherently apolitical. Investors have a duty to consider all economically relevant and useful information in their investment decisions.

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US bank failures ‘very different’ from 2008 crisis, Yellen says

US treasury secretary hails government intervention to guarantee depositors’ money and says banking system is ‘sound’.

Al Jazeera

Watch: Treasury secretary Janet Yellen addresses bankers summit in Washington

Watch as the US Treasury secretary addresses the American Bankers Association’s annual Washington Summit in DC.

The Independent UK

US studies ways to insure all bank deposits if crisis grows

U.S. officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.

Tribune News Service

Janet Yellen pledges to protect depositors at smaller US banks

US officials step in to guarantee deposits after smaller US banks have been pummeled by a wave of withdrawals, triggering crisis

The Guardian - US

Yellen says bank situation 'stabilizing,' system is 'sound'

Treasury Secretary Janet Yellen is trying project calm after recent regional bank failures in California and New York

The Independent UK

Midsize US banks ask FDIC to insure deposits for 2 years

A coalition of midsize U.S. banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.

Tribune News Service

Midsize US banks ask FDIC to insure deposits for two years

A coalition of midsize U.S. banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.

Tribune News Service

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The Guardian - UK

Bank runs, bailouts, rescues: are the ghosts of 2008 rising again?

The travails of Credit Suisse and others have stirred up bad memories for a public still scarred by the financial crisis

Bangkok Post

As in 2008, JPMorgan chief plays key role in bank rescue

NEW YORK: Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.

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 - UK

SVB parent files for bankruptcy; Credit Suisse shares slide again amid banking crisis – as it happened

European and US banking shares fall, with Credit Suisse down 12% as sentiment remains fragile

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The Independent UK

Tucker Carlson’s criticism of Janet Yellen backfires after he backdates 2017 comments to 2007

‘Decade saving time,’ quips one user

The Independent UK

First Republic: Wall St pledges billions to rescue California bank as Credit Suisse lifted by liquidity line

Treasury Secretary Janet Yellen says US banking system sounds as Wall Street banks move to support First Republic

Al Jazeera

US banking giants pledge $30bn to prop up First Republic Bank

Leaders of top US financial agencies say move is ‘welcome’ amid fears California-based lender could be next to collapse.

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

The Guardian - US

Biggest US banks weigh rescuing First Republic as its shares tumble – report

Citigroup, Goldman Sachs, JP Morgan and Wells Fargo are among the banks discussing a lifeline for the San Francisco-based lender

Al Jazeera

Yellen seeks to reassure US legislators after bank collapse

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

The Guardian - US

Janet Yellen: US banking system is ‘sound’ despite two collapses in a week

Treasury secretary attempts to reassure nervous investors that emergency measure succeeded and bank deposits ‘will be there’

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