Banks have borrowed a combined total of $164.9 billion from the Federal Reserve in recent weeks following the collapse of Silicon Valley Bank (SVB), data published by the central bank show. According to Fed statistics released Thursday, banks borrowed $152.85 billion from the central bank in the week ending March 15 using the Fed’s traditional discount window—known as discount window…
Banks Borrow Billions to Maintain Liquidity, Fed Data Show
March 17, 2023
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Anatomy of the Banking Crisis of 2023
March 16, 2023
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Commentary For three years, I’ve been amazed at the relative calm in the financial system. It truly did not seem believable to me that governments and central banks could utterly shatter all market functioning and flood the world with paper money and yet there be no structural consequences for the banks. My only question was…
Federal Reserve’s Bank Rescue Could Inject $2 Trillion of Liquidity, Raising Inflation Concerns
Strategists at JPMorgan Chase predict that the Federal Reserve’s emergency lending program to bolster stressed banks could inject as much as $2 trillion into the U.S. banking system, with some analysts raising concerns that the program could fuel inflation or boost moral hazard. Following the abrupt failures of Silicon Valley Bank (SVB) and Signature Bank,…
Silicon Valley Bank Collapse Could Impact Housing Market in Two Ways: Zillow
March 16, 2023
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The recent collapse of Silicon Valley Bank (SVB) could impact the housing market in two separate ways, according to real-estate marketplace company Zillow. In an article published on March 14, Zillow chief economist Skylar Olsen noted that mortgage rates could fall if the Federal Reserve pulls back from its aggressive interest-rate hikes—which market experts have said looked likely to…
Wholesale Inflation Falls, Retail Sales Slump, Investors Bet Fed Will Stop Hiking Rates
March 15, 2023
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Wholesale inflation slowed sharply in February as retail sales turned negative, a sign that inflationary pressures may be easing and bolstering investor bets that the Federal Reserve will slow it blistering pace of interest-rate hikes as the economy cools. The Producer Price Index (PPI), which reflects prices charges by manufacturers, farmers, and wholesalers, fell by…
Biden Admin’s Banking Busts
March 15, 2023
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Commentary The failure of three banks in the last two weeks, including Silicon Valley Bank on Friday and Signature Bank on Sunday, is a saga of utter government incompetence. Call these bank collapses Biden administration’s Banking Busts. The Biden administration has been obsessing on woke causes while banks teeter toward insolvency. Three days before Silicon…
Behind the Banking Crisis That Shook the Financial System
For the first time since the financial crisis of 2008–09, confidence in the U.S. banking system has eroded as three major banks shuttered in one week: Silvergate, Silicon Valley Bank (SVB), and Signature Bank. As experts brace for the next domino to fall in the unfolding turmoil, the federal government and the Federal Reserve are…
The Fed Can’t Give Up the Inflation Fight Yet
March 14, 2023
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Commentary Many people in Washington hoped for much better inflation numbers in February. Below zero would have released tears of joy following this rough weekend of bank failures and the first signs of financial instability in these three years of nonstop terrible. Alas, that did not happen. The report came in at a 0.4 percent…
US Inflation Eases to 6 Percent, Lowest Level Since September 2021
The U.S. annual inflation rate eased to 6 percent in February, down from 6.4 percent in January, according to the Bureau of Labor Statistics (BLS). This matched economists’ expectations and is the lowest reading since September 2021. The core consumer price index (CPI), which strips the volatile food and energy sectors, slowed to 5.5 percent,…
Silicon Valley Bank Crash Due to Monetary Policy: Economist
Who is to blame for the collapse of Silicon Valley Bank? Daniel Lacalle, chief economist at hedge fund Tressis argues that the Federal Reserve’s loose monetary policy is partly responsible. He believes that if the Fed had tackled inflation earlier and had not labeled inflation as transitory, the Silicon Valley Bank fall could have been…
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