Stay updated with breaking news from Banking 2023. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Republican senators are cautioning the Federal Reserve to curb initiatives related to climate change amid high inflation and tumult in the banking sector.
The U.S. government has entrusted the same person to buy the remains of the second-largest bank failure in the nation's history whom it also entrusted to oversee the first-largest. As was true in 2008 when Jamie Dimon was beckoned by Uncle Sam to shell out $1.9 billion for Washington Mutual, the JPMorgan Chase CEO is once again responsible for cleaning up the collapse of First Republic Bank.
First Republic Bank’s stock has plunged to new lows amid reports that the federal government is eyeing taking the flailing firm into receivership.
The committee will hear from senior officials at the Federal Reserve, Treasury Department, and the Federal Deposit Insurance Corporation as they grill the financial experts on what regulators did — or didn't do — to prevent the banking failures.
Despite the worst inflation in four decades moderating toward the end of last year, consumer price index inflation has stagnated at 6%, in large part due to sky-high real estate prices, which comprised 70% of February's CPI increase.