Business

WASHINGTON/NEW YORK (Reuters) — The banking crisis set off by the swift collapse of Silicon Valley Bank has exposed a sharp disconnect between Washington and Wall Street. Bankers want faster, more aggressive action to shore up the industry, while the Biden White House and regulators argue they̵…

(Reuters) — In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system. With the collapse of Silicon Valley Bank and Signature Bank and the U.S. gove…

Federal Reserve Board Chair Jerome Powell holds a news conference after the Fed raised interest rates by a quarter of a percentage point following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., March 22, 2023. (Reuters) — The Federal Reserve on W…

WASHINGTON (Reuters) —  The Federal Reserve is expected to raise interest rates by a quarter of a percentage point on Wednesday, a decision that will land amid a brewing political storm over the U.S. central bank’s oversight of collapsed Silicon Valley Bank and with the financial world hangin…

WASHINGTON (Reuters) — The U.S. Federal Reserve begins a two-day meeting on Tuesday, with some top central bank watchers saying it could well pause further rate hikes given recent trouble among banks or even delay releasing new economic projections because the outlook is so clouded. Or not. The Fed…

(Saipan Chamber of Commerce) — The Joint Region Marianas or JRM team is coming to Saipan to host and introduce its Quality of Life Program to the CNMI business community on Tuesday, March 28, 2023, from 10 a.m. to 11:30 a.m. at the multi-purpose center. The JRM team will also be doing one-on-one se…

WASHINGTON (Reuters) — The lightning speed at which the banking industry descended into turmoil has shaken global markets and governments, reviving eerie memories of the financial crisis. Like 2008, the effects may be long lasting. In the space of a week, two U.S. banks have collapsed, Credit Suiss…

(Reuters) — Wall Street’s main indexes fell on Thursday after the European Central Bank raised its key policy rate despite fears of a global banking crisis, fueling concerns that the Federal Reserve could also tighten monetary policy for longer. The European Central Bank pushed through a 50 b…