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The Latest Breaking News from the Federal Reserve

Job market softens only a bit, keeping Fed on track for May hike

U.S. payrolls rose at a firm pace last month with the unemployment rate dropping again near record lows, paving the way for the Federal Reserve to increase interest rates at its next meeting.

Tribune News Service

Jobs Report Shows Pace of Hiring Slowed in March: What the Experts Are Saying

The jobs report showed the lowest level of hiring in more than two years.

Kiplinger

US adds 236,000 jobs in March as unemployment rate remains little changed

The lower job numbers come as a hot labour market cools down amid increasing interest rates

The Independent UK

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5 Money Moves for Your Recession Game Plan

Some think a recession is inevitable. Is your game plan ready if it is?

Kiplinger

The Week Ahead: Watching for the balancing act by big banks

There are banks and then there are systemically important banks. These banks are too-big-to fail. They are required to maintain certain financial buffers to protect depositors from fast moving markets, concentrated bank investments and guard against putting the broader financial system at risk.

Miami Herald

Asian stocks mixed ahead of US job market update

Asian stock markets are mixed ahead of a United States job market update that traders hope might encourage the Federal Reserve to ease off plans for more interest rate hikes

The Independent UK

March Jobs Report: What to Expect

The next jobs report is forecast to reveal a steep slowdown in payrolls growth.

Kiplinger

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‘Total and complete disaster’: DeSantis takes rhetorical aim at Fed Chairman Powell

WASHINGTON — Ron DeSantis has found a new rhetorical target as he prepares for a potential presidential bid: Federal Reserve Chairman Jerome Powell.

McClatchy Washington Bureau

Cash back credit cards can be simple and complex, here’s how to pick the best one for you

Cash back credit cards allow you to earn a percentage of cash back on your spending.

Fortune

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

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

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Fortune

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.

Miami Herald

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…

StockNews.com

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.

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The Independent UK

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

Miami Herald

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.

Tribune News Service

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.

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.

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