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The Latest Breaking News from Janet Yellen

Biden sidesteps banking turmoil as he calls on Congress to act

As the global banking crisis stretches into its third week, President Joe Biden has turned to a familiar playbook — lay low and point the finger at Congress.

Tribune News Service

ASX closes lower after Afterpay owner Block sheds 18pc in Friday trade, Swiss National Bank says Credit Suisse crisis 'put to a halt'

The ASX finished trading lower on Friday, with Afterpay owner Block Inc dropping 18 per cent in the wake of a scathing report by short-seller Hindenburg that alleged the company "misled" investors. Look back at the day's market's and business news as it happened.

ABC News

Stock Market Today: Stocks Close Higher in Volatile Session

The major indexes spent most of Thursday in rally mode, but selling pressure emerged in afternoon trading.

Kiplinger

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European bank shares fall as crisis leaves mark

Banking shares have slipped in Europe as investors adjust to more challenging economic and lending conditions ahead.

The New Daily

Bill Ackman says U.S. economy risks heading into a 'train wreck'

Bill Ackman said he would be “would be surprised if deposit outflows don’t accelerate effective immediately.”

Fortune

US raises interest rates despite troubles in banking industry

Stocks fell sharply Wednesday after the Federal Reserve indicated the end may be near for its economy-crunching hikes to interest rates, but it also doesn’t expect to cut rates anytime soon despite Wall Street’s hopes.

France 24

Powell stresses commitment to cooling prices as Fed hikes rates

The Federal Reserve raised interest rates at a ninth straight meeting and indicated there may be more hikes to come in a clear sign it’s confident that its bid to quell inflation won’t deepen a nascent banking crisis.

Tribune News Service

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Why everybody's talking about deposit insurance

Regulators are setting a precedent with potentially long-lasting consequences and thin legal authority.

Axios

Asian shares advance on back of Wall Street rally

Asian shares are higher after stocks rallied on Wall Street, including the banks most beaten down by the industry's crisis

The Independent UK

Yellen says banking stabilising, US may intervene more if needed

WASHINGTON - The United States banking sector is "stabilizing" after the recent failures of Silicon Valley Bank and Signature Bank rattled the industry, Treasury Secretary Janet Yellen told a lenders' conference Tuesday, as leaders seek to calm global worries.

Bangkok Post

Janet Yellen says the U.S. is ready to protect depositors at small banks if required

The Treasury Secretary said the administration is committed to protecting the U.S. banking system and customers who trust their money to it.

WEKU

Biden weighs in on the battle for the soul of Wall Street. Here’s how the president’s first veto will shape the way Americans’ money is managed

ESG investing is inherently apolitical. Investors have a duty to consider all economically relevant and useful information in their investment decisions.

Fortune

US bank failures ‘very different’ from 2008 crisis, Yellen says

US treasury secretary hails government intervention to guarantee depositors’ money and says banking system is ‘sound’.

Al Jazeera

Watch: Treasury secretary Janet Yellen addresses bankers summit in Washington

Watch as the US Treasury secretary addresses the American Bankers Association’s annual Washington Summit in DC.

The Independent UK

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Tribune News Service

US studies ways to insure all bank deposits if crisis grows

U.S. officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.

The Guardian - US

Janet Yellen pledges to protect depositors at smaller US banks

US officials step in to guarantee deposits after smaller US banks have been pummeled by a wave of withdrawals, triggering crisis

The Independent UK

Yellen says bank situation 'stabilizing,' system is 'sound'

Treasury Secretary Janet Yellen is trying project calm after recent regional bank failures in California and New York

Tribune News Service

Midsize US banks ask FDIC to insure deposits for 2 years

A coalition of midsize U.S. banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.

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Tribune News Service

Midsize US banks ask FDIC to insure deposits for two years

A coalition of midsize U.S. banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.

The Guardian - UK

Bank runs, bailouts, rescues: are the ghosts of 2008 rising again?

The travails of Credit Suisse and others have stirred up bad memories for a public still scarred by the financial crisis

Bangkok Post

As in 2008, JPMorgan chief plays key role in bank rescue

NEW YORK: Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.

The Guardian - UK

Credit Suisse shares continue to fall despite efforts to calm nerves

Lifelines handed to Swiss bank and US regional bank First Republic fail to ease investor concerns

The Guardian - UK

SVB parent files for bankruptcy; Credit Suisse shares slide again amid banking crisis – as it happened

European and US banking shares fall, with Credit Suisse down 12% as sentiment remains fragile

The Independent UK

Tucker Carlson’s criticism of Janet Yellen backfires after he backdates 2017 comments to 2007

‘Decade saving time,’ quips one user

The Independent UK

First Republic: Wall St pledges billions to rescue California bank as Credit Suisse lifted by liquidity line

Treasury Secretary Janet Yellen says US banking system sounds as Wall Street banks move to support First Republic

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