Federal Reserve Governor Michelle Bowman is troubled by the falling number of financial institutions in the U.S. banking system. In the aftermath of the Silicon Valley Bank and Signature Bank failures, there has been more scrutiny surrounding the health and state of the financial sector. At the end of 2021, there were 4,237 banks, down…
Federal Reserve Governor is ‘Concerned’ About Number of Banks Falling 71 Percent Since 1983
Banks Spend Billions on Climate, Racial Equity
April 12, 2023
admin
Bank of Americabanking crisisBusiness & MarketsCitibankCompanieseconomic policiesenergyESGJPMorgan Chasepersonal financeSocial IssuesUSWells Fargo
0 Comment
In this year’s annual reports to shareholders, America’s largest banks proclaimed their allegiance to climate activism, racial equity, and other progressive causes, spending billions in shareholders’ money to support this agenda. Similar in vein to BlackRock CEO Larry Fink’s annual letter, which often pushed other CEOs to get in line with initiatives like renewable energy,…
‘Recession Probabilities Are Going up at This Point’: Larry Summers
April 8, 2023
admin
banking crisisBusiness & Marketscredit cruncheconomic recessioneconomyLarry SummersPolicies & ImpactsrecessionUS
0 Comment
Former Treasury Secretary Lawrence Summers believes the probability of the United States entering a recession has spiked, pointing to tightening credit conditions. “Recession probabilities are going up at this point,” Summers said in an interview with Bloomberg. The U.S. economy averaged 345,000 monthly job additions in the first quarter of 2023 while the unemployment rate…
The Banking Crisis ‘Great Reset’
April 7, 2023
admin
banking crisisBusiness & MarketsBusiness ColumnistsCompanieseconomic policieseconomygovernment controlMarketsTBTFUSUS News
0 Comment
Commentary On Sunday, March 5, 1933, just one day after his inauguration, newly elected U.S. President Franklin Delano Roosevelt declared a banking “holiday,” closing all U.S. banks for four days. By the time the first banks began to reopen, financial regulators had scoured the banking system to determine which banks would survive and which would…
How Money Moves Prices
Commentary The banking crisis is there, but global inflation does not ease quickly. Breaking down the components tells clearly that the non-core components (food and energy) almost vanish while the core ones (mainly services) are still firm. This is true in most of the advanced economies, including Japan. Housing prices are generally coming down (some…
Trifecta of Inflation, Recession, and Banking Insolvency Leading to a ‘Doom Loop’: Economist
April 4, 2023
admin
banking crisisBusiness & Marketseconomic recessioneconomyinflationMarketsNouriel RoubiniPolicies & ImpactsrecessionstagflationUSUS News
0 Comment
Decades-high persistent inflation combined with increasing risks of an economic recession and an imminent insolvency crisis in the banking sector have resulted in a “trilemma” facing central banks, including the U.S. Federal Reserve, warns top economist Nouriel Roubini. “Unable to fight inflation and provide liquidity support simultaneously, the only solution is a severe recession—and thus…
Several Landmines Ahead for US Economy
April 2, 2023
admin
banking crisisbanksBusiness & MarketsBusiness Columnistscreditfinancial crisisOpinionU.S. economyViewpoints
0 Comment
Commentary Markets have remained relatively stable since the Federal Reserve announced a 25-basis-point hike in March, with no negative surprises jumping out of the U.S. banking sector. But the U.S. economy remains on the verge of trouble. There are landmines on several fronts that could hurt businesses and consumers. And all of this makes the…
Were Irish People the “First Slaves in America”? | The Larry Elder Show | EP. 146
March 31, 2023
admin
Bank bailoutbanking crisisEpochTVinflationinterest rateIrish SlaveryLive VideosReckless SpendingSilicon Valley BankThe Larry Elder ShowVideoWhite Slaves
0 Comment
Some refer to it as the “Irish slaves myth,” which claims that there weren’t any Irish slaves, but “indentured servants.” However, according to UCLA history professor Roger McGrath, the Irish slave trade began when 30,000 Irish prisoners were sold as slaves to the New World. In most cases during the 17th and 18th centuries, Irish slaves…
White House Calls For Tougher Bank Rules After Crisis
President Joe Biden is urging federal banking agencies to consider a series of reforms that would “reduce the risk of a future banking crisis” and refrain from penalizing community banks, says a White House official. Speaking in a call with reporters on Thursday, the administration official confirmed that the president is recommending reinstating rules and…
Why the Banking Crisis May Just Be Beginning
March 30, 2023
admin
Analysisbanking crisisESGfinancial crisisOpinionSilicon Valley BankSilicon Valley Bank Collapsestakeholder capitalismSVB CollapseUSUS News
0 Comment
News Analysis Silicon Valley Bank (SVB) failed in spectacular and sudden fashion on March 10, becoming the second largest bank to do so in our nation’s history and triggering panic in our banking system in the process. Although virtually everyone knows of SVB’s failure, not everyone understands exactly why Silicon Valley Bank failed. Many have…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`