In March, 15 companies rated by Moody's defaulted on their debt, bringing up the first quarter total to 33. That's the highest level since the last quarter of 2020, when 47 companies defaulted on their debt. The ratings giant expects...
The Federal Reserve raised interest rates for the 10th consecutive time on Wednesday, as expected, but suggested it may pause its aggressive fight against inflation. Even so, any halt may not feel like much relief to consumers who’ve suffered through...
If politicians don’t listen to the CEOs and economists telling them to hurry up and resolve the debt-ceiling crisis, a more formidable master may intervene: the stock market. Business leaders attending this year’s Milken Institute Global Conference in Beverly Hills,...
Here’s the good news. After its most aggressive interest rate hikes in 40 years, the Federal Reserve on Wednesday is expected to approve a final quarter-point increase and signal a long-awaited pause, economists say. The prospect of rate increases ending...
The net deposit outflow would have topped $100 billion in the first quarter if not for a rescue from 11 of the nation's largest banks First Republic (FRC) said Monday it lost a net total of $72 billion in deposits...
U.S. Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government's debt ceiling – and the resulting default – would trigger an "economic catastrophe" that would send interest rates higher for years to come. Yellen,...
With online savings accounts and money market funds offering attractive returns for the first time in years, some investors may be considering increasing the cash holdings in their portfolios. Stock market returns have been volatile over the past year and...
U.S. banks lost money on mortgages as prospective homebuyers – tired of battling high mortgage rates and still-rising home prices – backed out of the housing market. Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $301 on each...
The Federal Reserve has raised interest rates aggressively over the last year in a bid to slow inflation and the labor market. Its efforts are still not quite feeding through to the data. Friday's March jobs report is the latest...
Inflation has slowed and gross domestic product has revived , but most economists still expect a mild recession this year. In December, consumer prices rose 6.5% from a year earlier but that was down from a 40-year high of 9.1%...
The nation’s top financial regulator put the blame for the failure of Silicon Valley Bank in the lap of the bank’s managers during a Senate hearing Tuesday aimed at understanding what happened. But both Democrats and Republicans also said federal...
Federal Reserve officials will convene this week for one of the central bank's most uncertain policy meetings in years. Forced to balance the consequences of a banking crisis and inflation that remains well above target, the Fed is expected to...
More people are wondering just how safe their money is in a bank after the collapse of Silicon Valley Bank and Signature Bank. Online searches asking that question have jumped as Americans worry their bank could be the next to...
An acceleration in monthly core consumer prices seems likely to reinforce the Federal Reserve’ determination to raise interest rates to fight inflation, though the decision on next week’s move will be a tough call amid ongoing concern about financial turmoil....
Silicon Valley Bank’s crisis and subsequent closure has rocked financial markets since late last week. In a bid to protect depositors and investors, federal regulators announced Sunday that they would “address any liquidity pressures that may arise.” Many people have...
