Page 3 - Mark Bialek News Today

By Michael S. Derby NEW YORK (Reuters) - The Federal Reserve's in-house watchdog defended his agency's independence and ability to conduct investigati...

By Michael S. Derby NEW YORK (Reuters) - The Federal Reserve’s in-house watchdog defended his agency's independence and ability to conduct investigations in a Senate hearing on Wednesday, while acknowledging some dissatisfaction with the way

The class-action lawsuit was filed on behalf of hundreds of thousands of public employees of Rhode Island and Mississippi whose retirement funds had invested in Wells Fargo.

Sen. Elizabeth Warren (D-Mass.) blamed Federal Reserve Inspector (IG) General Mark Bialek for a lack of “competent oversight” during a Wednesday hearing while discussing the issue of potential insider trading by Fed officials.

Mark Bialek, the inspector general for the Federal Reserve, defended his position's independence and integrity before a Senate hearing.

The senator accused the watchdog of failing to hold Federal Reserve Chair Jerome Powell and others sufficiently responsible for violating rules on investment activities.

The possibility of an economic downshift — with no promise of relief in the form of rate cuts — will bear on how the market receives whatever deal President Joe Biden and House Speaker Kevin McCarthy broker on the debt limit.

The U.S. Senate Committee on Banking, Housing and Urban Affairs is holding three hearings this coming week centered around the collapses of Silicon Valley Bank and Signature Bank in March.

Sens. Elizabeth Warren, D-Mass., and John Kennedy, R-La., will examine the role of the Federal Reserve in bank failures in a hearing scheduled for May 10.

April 27, 2023- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "Oversight of the Credit Reporting Agencies." April 27, 2023- ...