The United States is producing millions fewer barrels of oil per day—and hundreds of millions fewer in total—than it could have if it had matched trends under President Trump, according to testimony from an energy expert before the House of Representatives. “Had the Biden administration simply mirrored the Trump administration’s production growth rate, daily oil…
Trump-Era Trends Could Have Yielded 850 Million More Barrels Under Biden: Expert
March 30, 2023
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Trump-Era Oil Trends Could Have Produced 850 Million More Barrels Under Biden: Expert
March 30, 2023
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The United States is producing millions fewer barrels of oil per day—and hundreds of millions fewer in total—than it could have if it had matched trends under President Trump, according to testimony from an energy expert before the House of Representatives. “Had the Biden administration simply mirrored the Trump administration’s production growth rate, daily oil…
Fed Was in Talks With Silicon Valley Bank to Use Discount Window Before Collapse
March 30, 2023
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Federal Reserve officials were reportedly in discussions with Silicon Valley Bank (SVB) to use its discount window, right before its collapse earlier this month. The Fed’s top enforcer testified in front of Congress on March 29, as the elected representatives demanded answers for the California-based lender’s collapse. House lawmakers questioned the regulators’ competency and accused…
AI Could Eliminate 300 Million Jobs, Warns Goldman Sachs
March 29, 2023
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Artificial intelligence (AI) could lead to the elimination of 300 million full-time jobs, according to a new study. A March 25th report by economists at Goldman Sachs Group (GSG) stated that improvements in AI technology may cause almost a quarter of existing positions in the United States and Europe to be replaced, but that new…
Bank Deposit Bailouts Could Cost Taxpayers Billions
March 29, 2023
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Following a string of regional bank failures over the past several weeks, bank regulators were quick to guarantee all depositors for the full balance of their bank accounts, even beyond the $250,000 limit set by the Federal Deposit Insurance Corp. (FDIC). At the time, the Biden administration assured Americans that taxpayers would not be on…
Senators Ask Powell If the Fed Had Been Lax in Supervising Failed SVB Bank
March 29, 2023
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Members of the Senate Banking Committee wrote to Federal Reserve chairman Jerome Powell if he and his fellow board members were lax in supervising Silicon Valley Bank (SVB), which failed earlier this month. Five senators sent a letter to Powell on March 27, which was obtained by Bloomberg, questioning whether the central bank exercised its full legal authority…
US Banks Raising Savings Rates to Keep Customers From Running Due to SVB Collapse Jitters
March 28, 2023
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American banks are currently raising their savings rates to keep customers from running due to jitters following the collapse of Silicon Valley Bank (SVB) and Signature Bank. The ongoing crisis in the banking industry is pushing lenders to offer more perks for customers, USA Today reported. Many depositors have been transferring their money from regional banks…
Selling a Home? Survey Reveals Ideal Time to Get the Best Deal
A new study by Realtor.com indicates the week of April 16 through 22 is the best time for homeowners to sell, plus they could get $48,000 more for their home during that week than if they sold at the beginning of the year. A combination of higher prices, fewer homes on the market, faster sales…
Inflows to Money Market Funds Top $280 Billion as Investors Pull Bank Deposits
March 28, 2023
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U.S. money market fund inflows have topped $280 million over the past two weeks, as many investors pull their bank deposits, according to a report. The Financial Times reported that more than $273 billion has flooded into money market funds this month, for the biggest month of inflows since the height of the pandemic in…
US, Japan Strike Trade Deal on Electric Vehicle Battery Minerals
March 27, 2023
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The United States and Japan on Tuesday announced a trade deal on electric vehicle battery minerals that is key to strengthening their battery supply chains and granting Japanese automakers wider access to a new $7,500 U.S. EV tax credit. The swiftly negotiated agreement prohibits the two countries from enacting bilateral export restrictions on the minerals…
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