The U.S. government will not bail out Silicon Valley Bank, says Treasury Secretary Janet Yellen. Speaking on CBS’ “Face the Nation” on Sunday, Yellen confirmed that the federal government will not intervene and use taxpayer dollars to bail out the bank that collapsed in 48 hours. “Let me be clear that during the financial crisis, […]
The myth of Joe Biden’s 2024 budget deficit reduction plan
President Joe Biden is proclaiming to every media network that his 2024 budget reduces the deficit is a myth. This does not happen at all. In fact, he actually adds $3 trillion to the decade-long deficits. In the 2023 budget, Biden projected that there would be nearly $14 trillion worth of cumulative deficits by 2033. […]
‘Head fake’: Don’t believe the three-month high initial jobless claims
The number of Americans filing for unemployment benefits climbed to 211,000 in the week ending March 4, up from 190,000. This was also higher than market estimates of 195,000. Does this mean the Federal Reserve’s tightening is working and finally slowing down the labor market? Not quite. In fact, market experts say not to buy […]
Watch: Federal Reserve Vice Chair to talk cryptocurrencies at PIIE event
How will the Federal Reserve crack down on cryptocurrencies? Fed Vice Chair Michael S. Barr will appear at a PIIE event to talk cryptos. Here is the link to the video:
Markets now expecting 50-basis-point rate hike at March FOMC meeting
What a difference a week can make. Following this week’s testimony on Capitol Hill from Federal Reserve Chair Jerome Powell, the financial market is now penciling in a larger-than-expected rate hike at this month’s Federal Open Market Committee (FOMC) policy meeting. Investors are expecting a 50-basis-point increase in the benchmark federal funds rate (FFR). Just […]