Jerome Powell

The anxiety this week centered on First Republic Bank in San Francisco, which was once the envy of the banking sector, with its wealthy and well-traveled clientele

The effort seeks to stop the California-based bank from becoming the third bank to fail in less than a week. Shares of First Republic had fallen sharply this week, dropping 60% on Monday alone

The search for causes and culprits for the Silicon Valley Bank failure is refocusing attention on a 2018 federal law that rolled back tough bank regulations put in place after the 2008 financial crisis

The Labor Department said Thursday that applications for jobless claims in the US for the week ending March 11 fell to 192,000 from 212,000 the previous week

From January to February, the government’s producer price index fell 0.1%, after a 0.3% rise from December to January

Federal Deposit Insurance Corp. officials told Republican senators Monday that they received offers for the bank over the weekend but didn’t have time to close

Critics point to many red flags surrounding Silicon Valley Bank, including its rapid growth since the pandemic and its unusually high level of uninsured deposits

The lawsuit says some quarterly and annual financial reports from SVB didn’t fully account for warnings from the Federal Reserve about interest rate hikes

Even though prices are rising much faster than the Fed wants, some economists expect the central bank to suspend its year-long streak of interest rate hikes when it meets next week

With bank share prices cratering Monday and fears of further financial instability roiling markets, most economists now expect the Fed to pause its rate hikes next week

US authorities have asserted that deposits are guaranteed while investors keep dumping shares and central banks rethink their monetary policy following the collapse of Silicon Valley Bank and Signature Bank

The latest evidence that businesses’ demand for workers is still robust complicates things for the inflation fighters at the Federal Reserve

SVB Financial Group lost 60% of its value after announcing plans to raise up to $1.75 billion in order to strengthen its capital position amid concerns about higher interest rates

The unemployment rate rose to 3.6% from a 53-year low of 3.4%, as more Americans began searching for work and not all of them found jobs

Stocks are coming off a sharp drop the prior day after the head of the Federal Reserve warned it could speed up its hikes to interest rates if pressure on inflation stays high

Wall Street had already been convincing itself that higher rates than earlier thought were on the way and that the Fed may even possibly go back to larger rate increases following last month’s data reports

Powell’s comments raise the possibility that the Fed will increase its key interest rate by a half-percentage point at its next meeting March 21-22

Powell’s first appearance before Congress in nine months coincides with recent signs that the economy remains resilient and inflation still stubbornly high

Inflation, measured year over year, has cooled since it reached 9.1% in June, having slowed to 6.4% in January

Several factors likely helped propel last month’s spending

The president also nominates longtime adviser Jared Bernstein to be chair of the White House Council of Economic Advisers