The Latest Breaking News from the Treasury Department

The U.S. has begun an aggressive new push to inflict pain on Russia’s economy and especially its oligarchs with the intent of thwarting the Kremlin’s invasion of Ukraine

President Joe Biden said that he ordered the Treasury Department and his economic advisers to address the failures of Silicon Valley Bank and Signature Bank, adding that those responsible will be held accountable.

The Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, as the U.S. seeks to stave off a deeper crisis after SVB Financial Group’s failure.