The Latest Breaking News from US Federal Reserve

The baht on Monday surged against a significant fall in the US dollar mainly due to the sudden collapse of Silicon Valley Bank (SVB) and the market's expectation that the US Federal Reserve (Fed) would slow down its policy rate hikes.

SVB’s collapse is dangerous to a stable financial system, and a blueprint of what banking should not do.

Regional banks “pose very significant challenges” for regulators, an FDIC board member wrote in 2019, long before Silicon Valley Bank’s failure.

The housing market is on the fritz – again.

Bill Ackman calls on the federal government to step in to solve the failed bank as Elon Musk is open to buying the bank

Despite the Fed’s hawkish stance, the long-term prospects of the software industry look bright, thanks to rapid digitalization and growing dependency on cloud-based solutions. Therefore, to capitalize on the industry’s tailwinds, it could be wise to scoop up the shares of fundamentally strong software stocks Oracle (ORCL), GoDaddy (GDDY), and…

In the US, the Federal Reserve has stepped in to guarantee deposits. The tech sector should realise it can’t go it alone, says James Ball, of The Bureau of Investigative Journalism

Biden's comments about SVB added to scrutiny of a 2018 law that eased banking requirements, but it's not clear that's what cause the failure

Despite the Fed’s continued interest rate hikes, job growth remains robust. As market uncertainties and risks obscure hopes and optimism, it could be wise to invest in fundamentally sound stocks, Salesforce (CRM), Progress Software (PRGS), Photronics (PLAB), and Forrester Research (FORR), for the long term. Continue reading….

The economist also said that the Fed will likely now “retreat” on interest rate hikes.

Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks is safe