The Federal Reserve Chairman, Jerome Powell, has admitted that the regulator was caught unaware by the sudden collapse of Silicon Valley Bank, despite being under their watch. Powell made the revelation during a press conference held after the Federal Open Market Committee meeting on March 22. He acknowledged that the.
The Federal Reserve Chairman, Jerome Powell, has admitted that the regulator was caught unaware by the sudden collapse of Silicon Valley Bank, despite being under their watch. Powell made the revelation during a press conference held after the Federal Open Market Committee meeting on March 22. He acknowledged that the.
The Federal Reserve has raised interest rates by 25 basis points and updated its dot plot projections, revealing a majority of the board expects rates to reach 5-5.25% by 2023. Introduction: The Federal Reserve recently made an announcement in its March meeting that it would hike the interest rate by.
Asian currencies are trading flat-to-low as the Chinese economy shows a mixed recovery. The Chinese yuan has fallen 0.2% after data showed that industrial production grew less than expected in February. Asian Currencies Trade Flat-to-Low Range Most Asian currencies are trading in a flat-to-low range as investors await data on.
Introduction On March 23, 2023, Japan is set to release its Consumer Price Index (CPI) data for the month of February. The release of this data is closely watched by economists, as it provides valuable insights into the country’s inflation rate. In this article, we will discuss the predictions made.
Background Investors have turned less bearish on the Chinese yuan and Singaporean dollar, among other Asian currencies, as they cut short bets due to fears of a banking crisis. According to a recent Reuters poll, this shift in sentiment comes as major central banks pause in policy tightening. The poll,.
Introduction Lebanon’s central bank is taking drastic measures to combat the spiralling devaluation of the Lebanese pound. On Tuesday, Governor Riad Salameh announced that the bank will begin selling unlimited amounts of US dollars. The move comes as the exchange rate on the central bank’s platform, Sayrafa, has steadily risen.
The U.S. Treasury Department has announced that it will be releasing guidance next week on sourcing requirements for electric vehicle battery tax subsidies under President Joe Biden’s climate change law. This guidance will be the first in a series of highly anticipated rules to determine how broadly the credits can.
Federal Reserve Chair, Jerome Powell, has raised concerns about the potential of a credit crunch triggered by banking industry stress, amid an economic slowdown. This warning came after the Fed’s latest policy meeting on Wednesday, during which the policy-setting committee unanimously raised interest rates by a quarter of a percentage.
FTX, a bankrupt crypto exchange, has filed a complaint against Modulo Capital, a venture capital firm, for the alleged misappropriation of $460 million of customer funds. According to the complaint filed in a New York court, Modulo Capital received a sizable investment from Alameda Research, FTX’s sister trading firm, in.
FTX, a bankrupt crypto exchange, has filed a complaint against Modulo Capital, a venture capital firm, for the alleged misappropriation of $460 million of customer funds. According to the complaint filed in a New York court, Modulo Capital received a sizable investment from Alameda Research, FTX’s sister trading firm, in.
The US dollar has fallen to its lowest level since mid-February as Treasury yields increase before the Federal Reserve rate decision. Expectations of a rate move have slightly increased, but are still not fully priced in. US dollar sinks to mid-February lows The US dollar is struggling on Wednesday despite.