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The Latest Breaking News from the Federal Reserve

Investors looking to protect against uncertainty could cash in with bonds

Bond yields are back, Daniel B. Berkowitz has been telling clients at Philadelphia-based Prudent Asset Management, which manages $1 billion for investors including Congregation Rodeph Shalom and family-business owners.

The Philadelphia Inquirer

US job openings fall below 10 million for first time since 2021

Vacancies at U.S. employers dropped in February to the lowest since May 2021, suggesting a cooling in labor demand in some industries but still indicative of a job market that’s too tight for the Federal Reserve.

Tribune News Service

US job openings slip to 9.9 million in February

U.S. job openings slipped to 9.9 million in February, fewest since May 2021 and a sign that the job market may be starting to cool, which would be welcome news for the inflation fighters at the Federal Reserve

The Independent UK

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Credit card debt is rising rapidly. Here's how to manage it

Have you felt increasingly overwhelmed by the growing numbers on your monthly credit card bills? Switching to your debit card and paying the minimum payment may not be enough to quickly eliminate the debt.

The Philadelphia Inquirer

Oil prices soar on producer output cuts; Asian shares mixed

Oil prices have soared more than 5% after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year

The Independent UK

From stability to consolidation to the big crunch, here are the 3 questions every small business owner is asking about the banking system

The bank crisis could spark a credit crunch that will rock the economy. It'll be a major test for small businesses.

Fortune

The Week Ahead: What difference will a month with two bank failures make for jobs?

Thirty days ago, few Americans knew what Silicon Valley Bank was or worried about their own bank accounts. Thirty days ago, the Federal Reserve had one fight on its hands: inflation. Thirty days ago, investors were buoyed by decent economic data — but not too strong — supporting confidence the…

Miami Herald

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3 Stocks That'll Survive Any Recession

Market experts continue to fear that higher interest rates from the Federal Reserve and the potential for a credit crunch might tip the economy into a recession. Given this backdrop, quality stocks Oracle Corp. (ORCL), Vertex Pharmaceuticals (VRTX), and Humana (HUM) have solid fundamentals that could help them survive a…

StockNews.com

3 Valueless Stocks No Investor Wants

As the Fed’s rate hikes are expected to continue, the odds of a recession this year are rising. Amid lingering macroeconomic headwinds, fundamentally weak stocks Aurora (AUR), Hut 8 (HUT), and AppHarvest (APPH) might be best avoided. These stocks look overvalued at their current prices. Keep reading.

StockNews.com

Asian stocks follow Wall St up ahead of US inflation update

Asian stocks have followed Wall Street higher ahead of a United States inflation update that traders hope might prompt the Federal Reserve to ease plans for more interest rate hikes

The Independent UK

Average long-term mortgage rate at lowest level in six weeks

The average long-term U.S. mortgage rate inched down this week to its lowest level in six weeks, just as the spring buying season gets underway

The Independent UK

More Americans file for jobless claims; layoffs remain low

U.S. applications for jobless benefits rose last week but remain at historically low levels despite the Federal Reserve’s efforts to cool the economy and job market in its fight against inflation

The Independent UK

Stubborn inflation, tight labor market quite challenging, Miami Fed exec says

Inflation needs to be brought under better control before the Federal Reserve starts reversing its monetary policy of boosting interest rates, a Miami-based regional executive with the Federal Reserve Bank of Atlanta said Tuesday, during a regional economic summit at Key Biscayne.

Miami Herald

Fed’s Barr acknowledges oversight lapses before SVB failure

The Federal Reserve’s top bank regulator on Wednesday said that supervisors could have done more to keep tabs on Silicon Valley Bank before it collapsed earlier this month.

Tribune News Service

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The Conversation

SVB's newfangled failure fits a century-old pattern of bank runs, with a social media twist

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

Fortune

Key takeaways from the Senate’s bank failure hearing

Amid all the finger-pointing, Senators and speakers said more monitoring was needed in the banking sector.

Kiplinger

How to Protect Your Cash and Investments in a Banking Crisis

A focus on FDIC insurance and Treasury-only money market or bond fund options can help safeguard investments when a banking crisis threatens.

Al Jazeera

Senate committee questions federal regulators over US bank crisis

Tuesday marked the US Senate’s first public hearing into the collapse of Silicon Valley Bank in early March.

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The Independent UK

Fed official: SVB itself was main cause of bank's failure

The nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse

Reason

Federal Courts Clash Over Financial Watchdog's Constitutionality

The CFPB funding scheme is constitutional, the 2nd Circuit says.

Fortune

‘There is no alternative’ has been the order of the day for investors since 2008. Not anymore, Goldman Sachs says

Investors are going to sell $750 billion worth of stock this year. Welcome to “TARA” world.

Fortune

A recession in 2023 is now inevitable. Layoffs in tech and finance will spread to other sectors

Don't let a seemingly strong jobs market fool you–the data today is reminiscent of the early days of past recessions, according to Murray Sabrin.

The Independent UK

Fed official: Regulators will ensure all deposits are 'safe'

The nation’s top financial regulator pledged that the Federal Reserve and other agencies will take whatever steps they deem necessary to protect depositors and the banking system two weeks after two large bank collapses triggered financial turmoil in the United States and Europe

The Conversation

Seven likely consequences from the banking crisis that most people haven't realised yet

With four banks down in the US and Europe and at least several more wobbling, we’re currently in the throes of the worst banking strife since 2007-08. Aggressive interest rate hikes have meant that banks are sitting on hefty losses on their portfolios of government bonds – some US$2 trillion…

Caixin Global

Editorial: Lessons From the Collapse of Silicon Valley Bank

By taking every crisis suffered by others seriously, we can minimize our own crises

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