The latest turmoil in the banking sector could bring the United States closer to a recession, Minneapolis Fed President Neel Kashkari has warned. Speaking on CBS’s “Face the Nation” on March 26, Kashkari was asked whether the collapse of Silicon Valley Bank (SVB) and regional lender Signature Bank, as well as the recent rescue takeover of Credit Suisse…
Recent Banking Turmoil Brings America Closer to Recession: Fed’s Kashkari
US Taxpayers Could Be On the Hook for Credit Suisse Bailout, Expert Warns
March 21, 2023
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Following an emergency announcement on Sunday evening, the Federal Reserve loaned the Swiss National Bank (SNB) $101 million through its dollar swap facility. If the loan is not repaid by next week, U.S. taxpayers will foot the bill, a macroeconomic analyst told The Epoch Times. With its announcement over the weekend, the Fed—in coordination with…
Sen. Warren Says Fed Chair Wants to Make Millions of Americans Jobless to Fight Inflation
March 20, 2023
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Sen. Elizabeth Warren (D-Mass.) has criticized Federal Reserve Chair Jerome Powell’s handling of the economy, accusing him of trying to put up to 2 million Americans out of work as part of the central bank’s efforts to bring down inflation. Warren made the comments in an interview on NBC’s “Meet the Press” on March 19 in which she called…
Traders Keep to Bets Fed Will Raise Interest Rates by 25 Bps This Week
Traders of futures tied to the Federal Reserve’s policy rate have stuck to their bets of a quarter percentage point interest rate hike this week. It caps a tumultuous week in which money market pricing experienced wild swings, with predictions of a 50 basis point move jettisoned after the collapse of two large regional U.S….
‘Not QE’ as Fed Trapped Between a ‘Rock and a Hard Place’
March 18, 2023
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Commentary “QE” or Quantitative Easing has been the bull’s siren song for the last decade, but will “Not QE” be the same? Last week, amid a rash of bank insolvencies, government agencies took action to stem a potential banking crisis. The Federal Deposit Insurance Corporation (FDIC), the Treasury, and the Fed issued a Bank Term…
Depositors of Failed Banks Should Not Be Bailed Out: Reagan Economic Advisor
March 14, 2023
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In the aftermath of two failed banks, the crypto-focused Signature Bank and the 16th largest U.S. depository Silicon Valley Bank (SVB), economists are questioning the role of the Federal Reserve in the banking crisis. Former economic advisor to President Reagan, Steve Hanke believes that the Fed’s contractionary policies have contributed to the current situation and…
LIVE 10:30 AM ET: Fed Tries to Stop Unfolding Bank Crisis; Illegal Immigrants Cost US Health Care System Billions per Year
The Federal Reserve and the Biden administration are attempting to stop the unfolding crisis on America’s banks. Despite new measures taken to ensure that depositors are able to get money from troubled banks, upsets in the stock market and problems threatening regional banks suggest the crisis isn’t over. Meanwhile, Republicans are calling for U.S. military…
LIVE NOW: Fed Tries to Stop Unfolding Bank Crisis; Illegal Immigrants Cost US Health Care System Billions per Year
The Federal Reserve and the Biden administration are attempting to stop the unfolding crisis on America’s banks. Despite new measures taken to ensure that depositors are able to get money from troubled banks, upsets in the stock market and problems threatening regional banks suggest the crisis isn’t over. Meanwhile, Republicans are calling for U.S. military…
Fed Tries to Stop Unfolding Bank Crisis; Illegal Immigrants Cost US Health Care System Billions per Year
The Federal Reserve and the Biden administration are attempting to stop the unfolding crisis on America’s banks. Despite new measures taken to ensure that depositors are able to get money from troubled banks, upsets in the stock market and problems threatening regional banks suggest the crisis isn’t over. Meanwhile, Republicans are calling for U.S. military…
LIVE 3/14, at 10:30 AM ET: Fed Tries to Stop Unfolding Bank Crisis; Illegal Immigrants Cost US Health Care System Billions per Year
The Federal Reserve and the Biden administration are attempting to stop the unfolding crisis on America’s banks. Despite new measures taken to ensure that depositors are able to get money from troubled banks, upsets in the stock market and problems threatening regional banks suggest the crisis isn’t over. Meanwhile, Republicans are calling for U.S. military…
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