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The Latest Breaking News from US Federal Reserve

Homes are less affordable than at any time since 2008

According to the Federal Reserve Bank of Atlanta, the pandemic has coincided with a historic deterioration in housing affordability.

Fortune

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

The Independent UK

As another Fed official rips the 'textbook case of mismanagement' at SVB, he's also turning the mirror on his own failures

The Fed's vice chair for supervision, Michael S. Barr, says he is “committed” to finding “any supervisory or regulatory failings” that led to SVB's collapse.

Fortune

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Federal Courts Clash Over Financial Watchdog's Constitutionality

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

Reason

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.

Fortune

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 Independent UK

Banking crisis has ‘definitely’ tipped the U.S. closer to recession, warns top Fed official who was at the center of the 2008 bailout

“Not all of these stresses are behind us," warns Minneapolis Fed President Neel Kashkari, the former administrator of the Troubled Asset Relief Program.

Fortune

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Elon Musk says the state of the commercial real estate debt market is ‘by far the most serious looming issue’

Not only is Elon Musk worried about troubled commercial real estate loans maturing during a period of spiked interest rates. He says it's the next crisis.

Fortune

3 Stocks to Avoid in April 2023 at All Cost

Coupled with the recent banking collapses, the Fed’s hawkish stance to curb inflationary pressures have stoked recessionary fears among market experts. Consequently, market volatility is expected to continue for a while. Against this backdrop, stocks with bleak prospects, Norwegian Cruise Line Holdings (NCLH), First Majestic Silver (AG), and Nano Dimension…

StockNews.com

Legendary investor Mark Mobius expects more interest rate hikes but thinks the economy will do well anyway

He thinks that the U.S. money supply and government-led infrastructure spending will keep the economy robust.

Fortune

Top Fed official: Silicon Valley Bank was "textbook case of mismanagement"

A congressional hearing on Silicon Valley Bank’s failure will begin on Tuesday.

Axios

Bank failures have 'increased' threats to global financial stability, IMF says

Global economic growth was expected to slow this year, but this month's banking crises have raised the risk of even bigger problems.

Fortune

Fed chair to speak to House GOP lawmakers Wednesday - Roll Call

Federal Reserve Chair Jerome H. Powell is set to visit Capitol Hill and will attend the Republican Study Committee's weekly lunch.

Roll Call

Editorial: Lessons From the Collapse of Silicon Valley Bank

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

Caixin Global

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StockNews.com

3 of the Best Growth Stocks to Buy Today

The turmoil in the banking sector might prompt the Fed to pivot from its hawkish policy, which should benefit growth stocks. As the central bank may be nearing the end of its rate-hiking cycle, fundamentally strong growth stocks Visa (V), Adobe (ADBE), and Sociedad Química (SQM) might be ideal buys.…

Barchart

Stocks Set to Open Higher as SVB Deal Calms Banking Sector Fears

June S&P 500 futures (ESM23) are up +0.34%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning as market participants welcomed the news that First Citizens BancShares had agreed to acquire Silicon Valley Bank’s deposits and loans.

The Times of India

First Citizens buys Silicon Valley Bank

NEW YORK: First Citizens BancShares Inc agreed to buy Silicon Valley Bank which was seized by regulators following a run on the lender.

Barchart

The Fed Speaks- Inflation Remains the Enemy

The U.S. central bank remains unphased by the recent upheaval in the banking sector as it continues to battle inflation by tightening credit. The Fed allowed inflationary pressure to mount in 2021, waiting too long to boost interest rates, pushing inflation to the highest level in four decades. In 2023,…

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news in one place.

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Barchart

GDP, Consumer Confidence and Other Can't Miss Items to Watch this Week

Fed weeks always make for a good time with trading, and last week was no different. While the Fed Funds rate did not really move the market as it hit where it was expected with a 25 basis point increase.

StockNews.com

Why This Key Buy Signal Is Making Me Nervous About Current Market Conditions…

This week, we had the latest meeting by the Federal Reserve. The central bank raised interest rates by 25 basis points, and indicated that we're likely close to a pause. You'd imagine the stock market (SPY) would cheer... But I'm seeing something else that's making me nervous. Read on.

The Independent UK

Bank failures and rescue test Yellen's decades of experience

Treasury Secretary Janet Yellen worked against the clock with other regulators, lawmakers and business leaders to come up with a plan that would prevent a full blown banking crisis

StockNews.com

The WORST Stock Market Ever!

It’s been a while since I talked to anyone enjoying the recent stock market action. Too volatile. Too illogical. No real trend. All true. However, the more we understand why this is happening the easier to diagnose what will happen from here and how we can trade our way to…

Bangkok Post

Prepare to invest amid falling interest rates

The global economic and investment picture this month is strikingly different from last month. In our article last month "Global and Thai economy in a no-landing scenario", we warned about rising risks, even as others predicted a "no landing" situation, or an economy that can continue without slowing down or…

Bangkok Post

Lingering bank worries keep lid on Asian shares

RECAP: Asian shares came under pressure yesterday after lingering banking stability concerns gripped Wall Street, while bond markets bet that recent rate hikes by central banks will be among the last of the cycle, allowing for policy relief later in the year.

Fortune

A fed official just said abandoning the 2% inflation target would be a 'disaster' that would send the world back to the '70s despite banking crisis

St. Louis Fed president Bullard told Bloomberg Friday he fears '70s-style inflation will hit the global economy if the Fed changes its inflation target.

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