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The Latest Breaking News from Jerome Powell

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

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

The Guardian - US

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…

Tribune News Service

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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.

Chicago Tribune

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.

Bangkok Post

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.

Fortune

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 Independent UK

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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.

Tribune News Service

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.

The New Daily

Fed gets more room to pause rate hikes after drops in producer prices, retail sales

U.S. producer prices and retail sales both declined in February, giving Federal Reserve officials more room to potentially pause interest-rate hikes as they weigh the impact of a banking crisis against inflation risks.

Tribune News Service

2 Big Problems the Feds Have to Overcome…

Lots has happened in the past two weeks and it has certainly been a bumpy ride for the S&P 500 (SPY). Just when it looked like hotter-than-expected data points were pushing us toward a 50-bps rate hike, we saw two banks collapse seemingly out of the blue in a single…

StockNews.com

2 Cheap Growth Stocks to Buy Today

With the banking sector’s crisis and inflation coming in line with expectations, markets are pricing in a 25-basis-point rate hike. Against this backdrop, fundamentally strong and cheap growth stocks NextGen Healthcare (NXGN) and Tarena International (TEDU) might be solid buys today. Read on….

StockNews.com

US wholesale inflation fell last month on lower food costs

Wholesale price increases in the United States slowed sharply last month as food costs declined, a sign that inflationary pressures may be easing

The Independent UK

Washington reacts on the fly to Silicon Valley Bank failure

After a frenetic weekend of round-the-clock briefings, U.S. policymakers took the audacious step of guaranteeing all the deposits of the failed Silicon Valley Bank — even those exceeding the Federal Deposit Insurance Corporation's $250,000 limit

The Independent UK

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The Independent UK

Fed, under criticism for bank failure, faces tough decisions

The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into what became the second-largest bank failure in U.S. history

Tribune News Service

US core CPI tops estimates, pressuring Fed as it weighs hike

Underlying U.S. consumer prices rose in February by the most in five months, forcing a tough choice for Federal Reserve officials weighing still-rapid inflation against banking turmoil in their next interest-rate decision.

The Guardian - US

US inflation slows to 6% annual rate amid looming banking crisis

The Fed’s target of bringing inflation to 2% could see dramatic change in tumultuous aftermath of Silicon Valley Bank collapse

WEKU

The Fed already had a tough inflation fight. Now, it must deal with banks collapsing

Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.

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StockNews.com

3 Stocks That Could Take Your Portfolio to the Next Level in 2023

Following Fed Chair Jerome Powell’s testimony on monetary policy last week and February’s job report showing more job creation than expected, the probability of the Fed increasing interest rates have risen. However, given the rosy long-term prospects of the tech industry, fundamentally strong stocks Fortinet (FTNT), Teradata (TDC), and Box…

The Independent UK

Why another high inflation report may not cause Fed to hike

The government inflation report being released Tuesday is expected to show that price acceleration in the United States remained chronically high in February, putting the Federal Reserve in an unusually tough position

Tribune News Service

Traders bet on no more Fed hikes, US two-year yields plunge

Treasury bonds surged, pushing key two-year yields to their lowest level this year, as investors bet the collapse of three US lenders will compel policymakers to halt interest-rate increases.

Reason

How the Fed Broke Silicon Valley Bank

The Fed's anti-inflation measures had to hurt someone.

Reason

Everyone Is Learning the Wrong Lessons From the Silicon Valley Bank Collapse

Plus: Fox News troubles, junk statistics about illicit economies, and more...

StockNews.com

2 Best Value Stocks to Buy Today

In addition to Fed Chair Jerome Powell’s hawkish statements last week, the recently released hotter-than-anticipated job report for February has simultaneously raised the odds for a higher rate hike this month. This weighed heavily on the investors’ sentiments. Against this backdrop, quality value stocks Honda Motor (HMC) and NetScout Systems…

Evening Standard

OPINION - Controlling inflation is the battle of our times — and fortune will favour the bold

The Bank of England appears to be as confused as everybody when it comes to the outlook for interest rates. At the beginning of the month, a speech by the Bank’s Governor Andrew Bailey triggered hugely conflicting headlines. They ranged from “Bailey downplays talk of sharp rise in interest rates”…

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