Financial related news.
When two tech-linked banks failed earlier this month, among the investors who lost millions were public-sector pension funds responsible for ensuring the retirements of teachers, firefighters and other government workers. The pension funds, like others, have reaped the benefits of bull markets and, like many investors, have suffered when investments soured. Last year, many lost [...]
WASHINGTON — It seemed like a good idea at the time: Red-state Democrats facing grim reelection prospects would join forces with Republicans to slash bank regulations — demonstrating a willingness to work with President Donald Trump while bucking many in their party. That unlikely coalition voted in 2018 to roll back portions of a far-reaching [...]
Markets this year are roiling, uncertainty abounds and the federal government has had to step in to rescue two large American banks in recent days. So why is bitcoin, considered among the riskiest bets of them all, rising so fast? Just months ago, all forms of cryptocurrency appeared to be going up in flames, with [...]
WASHINGTON (AP) — Still grappling with persistently high inflation, the Federal Reserve faces an entirely new — and in some ways conflicting — challenge as it meets to consider interest rates this week: How to restore calm to a nervous banking system. The two simultaneous problems would normally push the Fed in different directions: To [...]
WASHINGTON (AP) — The warning signs were all there. Silicon Valley Bank was expanding at a breakneck pace and pursuing wildly risky investments in the bond market. The vast majority of its deposits were uninsured by the federal government, leaving its customers exposed to a crisis. None of this was a secret. Yet bank supervisors [...]
Signature Bank's collapse came stunningly fast, leaving behind the question of whether there was a fundamental flaw in the way it did business — or if it was just a victim of the panic that spread after the failure of Silicon Valley Bank. There were few outward signs that Signature Bank was crumbling before the [...]
LOS ANGELES (AP) — Homeownership is likely to remain a pipe dream for many Americans this spring homebuying season. The nation's worst housing slump in nearly a decade stoked hope among prospective buyers that homes could be scooped up more easily, but while prices appear to have peaked last summer, they still ended 2022 higher [...]
WASHINGTON (AP) — The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into the second-largest bank failure in the nation’s history. Critics point to many red flags surrounding the bank, including its rapid growth since the pandemic, its unusually [...]
WASHINGTON (AP) — Consumer price increases eased slightly from January to February, but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. The government said earlier this week that prices increased 0.4 percent last month, just below January's 0.5 percent [...]
WASHINGTON (AP) — There's one way to force President Joe Biden and Congress to solve the looming crisis over the debt limit: a financial market crash. That's a view held by several economists and a former White House official, mindful that Congress rarely acts unless an emergency forces lawmakers to. "For that drama not ending [...]