In a viral exchange back in March, Sen. Elizabeth Warren (D-Mass.) grilled Federal Reserve Chair Jerome Powell over the unemployment caused by the Fed’s recent rate hiking cycle. “Do you call laying off two million people this year not a ‘sharp’ increase?” the senator asked. “Explain that to the two million families who are going…
High Interest Rates Are Not the Problem; Decades of Low Rates Were: Grant Williams
May 19, 2023
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LIVE NOW: Federal Reserve Chair Powell, Former Chair Bernanke Speak About Monetary Policy at Fed Conference
Jerome Powell, chair of the Board of Governors of the Federal Reserve System, and Ben Bernanke, former chair of the Board of Governors, speak about monetary policy at 11:00 a.m. ET on May 19 at the Thomas Laubach Research Conference hosted by the Federal Reserve. …
Federal Reserve Chair Powell, Former Chair Bernanke Speak About Monetary Policy at Fed Conference
Jerome Powell, chair of the Board of Governors of the Federal Reserve System, and Ben Bernanke, former chair of the Board of Governors, speak about monetary policy at 11:00 a.m. ET on May 19 at the Thomas Laubach Research Conference hosted by the Federal Reserve. …
Federal Reserve Must Not Become a Climate Policymaker, Senate Republicans Say
In a letter to Federal Reserve Chair Jerome Powell, a group of Senate Republicans criticized the central bank for initiating its climate agenda while the institution grapples with rampant inflation and banking turmoil. Upper chamber GOP officials, led by Sen. Dan Sullivan (R-Alaska), wrote that the Fed is inching toward implementing climate change into its…
LIVE 2:30 PM ET: Senate Banking Committee Hearing on ‘Strengthening Accountability at the Federal Reserve’
May 17, 2023
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The Senate Banking Committee conducts a hearing on Strengthening Accountability at the Federal Reserve: Lessons and Opportunities for Reform at 2:00 p.m. ET on May 17. …
LIVE NOW: Senate Banking Committee Hearing on ‘Strengthening Accountability at the Federal Reserve’
May 17, 2023
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The Senate Banking Committee conducts a hearing on Strengthening Accountability at the Federal Reserve: Lessons and Opportunities for Reform at 2:00 p.m. ET on May 17. …
Senate Banking Committee Hearing on ‘Strengthening Accountability at the Federal Reserve’
May 17, 2023
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The Senate Banking Committee conducts a hearing on Strengthening Accountability at the Federal Reserve: Lessons and Opportunities for Reform at 2:00 p.m. ET on May 17. …
ANALYSIS: Stanford Professors Fear Half of US Banks Approaching Insolvency, as Navarro Blames ‘Biden’s Inflation’
May 16, 2023
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In a recent analysis, professors Anat Admati, Martin Hellwig, and Richard Portes present a scathing critique of the U.S. banking sector’s systemic issues, brought into focus by the 2023 banking crisis. Their analysis, in particular, centers around the failure of Silicon Valley Bank (SVB) and First Republic Bank, highlighting the systemic issues afflicting U.S. banks….
Cultural Shift in Federal Reserve Supervision Another Contributor to Banking Turmoil: House Panel
May 16, 2023
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Since the COVID-19 public health crisis, the Federal Reserve system has undergone a cultural shift in supervision, and this may have been another contributing factor to the turmoil in the banking system, a House committee heard. The House Financial Services Committee hosted a hearing on May 16. It featured testimony from Fed vice chair for…
Former Silicon Valley Bank CEO Apologizes for Bank’s Collapse in Senate Testimony
Former chief executive of Silicon Valley Bank (SVB) Greg Becker issued a public apology before a Senate committee on Tuesday. Becker expressed deep remorse for the devastating impact suffered by SVB’s employees, clients, and shareholders during the recent financial turmoil that led to the bank’s collapse. “I never envisioned myself or SVB being in this…
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