Senate Banking Committee Chairman Sherrod Brown says prospects are improving for legislation lifting the Federal Deposit Insurance Corp. cap, as senators discuss several ideas ahead of a key hearing next week on the failures of Silicon Valley Bank and Signature Bank.
Wall Street widely expected the Federal Reserve to raise interest rates by 25 basis points, which is exactly what happened. But equity investors debated conflicting messages: the policy guidance shifted from “ongoing” rate increases to “some additional” policy firming, though Chair Jerome Powell said that the Fed’s hands aren’t tied.
US regulators, coping with more than 100 drug shortages, don’t have enough information to predict which medications will run low next, according to an analysis discussed in a Senate committee Wednesday.
Federal Reserve Chair Jerome Powell said the agency is prepared to “use all of our tools” to maintain safety, soundness and efficiency in the banking system following the collapse of three US lenders this month.
As Manhattan District Attorney Alvin Bragg appears poised to indict former President Donald Trump, some of the prosecutor’s most prominent New York critics have gathered under one roof.
Bank of Canada officials didn’t actively consider raising interest rates in early March and were “comfortable” that inflation would slow further despite some stronger-than-expected economic data, according to a summary of their discussions.
When DeCamp Bus Lines ends its New York City commuter service next month, the New Jersey-based company will join a slew of transit providers that have cut back or shuttered since the pandemic wiped out ridership.
House Republicans subpoenaed documents from the National Labor Relations Board as part of an investigation into allegations that agency officials engaged in misconduct during a union election at a Kansas Starbucks Corp. store.
A crypto brokerage founder says he has a new way to revolutionize the world of high finance: selling government and corporate bonds to investors online, using digital currency technology to track transactions.
UK Prime Minister Rishi Sunak paid more than £1 million ($1.2 million) in UK taxes over the past three years, with his earnings from shares and capital gains easily eclipsing his political salary.
