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Jerome Powell called for a “thorough, transparent, and swift review” of the Federal Reserve’s supervision and regulatory activities following Silicon Valley Bank’s closure. Go to Source Powered by WPeMatico
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and … Read more
The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central … Read more
The New York-based fintech said it will provide an API to allow clients to access the new Federal Reserve real-time payment service when it premiers. Go to Source Powered by WPeMatico
While the federal government’s proactive approach to minimizing damage was appreciated, many pointed out that it’s the taxpayers that would ultimately suffer the depositors’ bailout. Go to Source Powered by WPeMatico
Bitcoin lines up a fresh charge at multi-month resistance, but BTC price action is already facing calls for a comedown triggered by CPI. Go to Source Powered by WPeMatico
Federal Reserve chair Jerome Powell said a “careful and thoughtful” review is needed to understand how the bank collapsed under its watch. Go to Source Powered by WPeMatico
Bitcoin price is up nearly 20% in days as Wall Street opens to multiple bank stocks halted over extreme losses. Go to Source Powered by WPeMatico
Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed. Go to Source Powered by WPeMatico
Prominent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks. Go to Source Powered by WPeMatico
