The U.S. annual inflation rate slowed to 4.9 percent in April, down from five percent in March. Economists had expected anything between 4.9 percent and 5.2 percent. The monthly consumer price index (CPI) rose 0.4%, unchanged from the previous month. The core inflation rate, which eliminates the volatile food and energy sectors, slowed to 5.5 […]
Money
Inflation continues to be sticky, stubborn for consumers, new FRBNY data show
Inflation is expected to remain sticky and higher than what the Federal Reserve expects. According to the Federal Reserve Bank of New York’s Survey of Consumer Expectations, the one-year-ahead inflation is expected to be at 4.4 percent, down slightly from the 4.7 percent print in the March report. The three- and five-year-ahead expectations jumped to […]
What did Jim Cramer say about Western Alliance?
So, Western Alliance, another troubled regional bank, is on the cusp of failure. The company is exploring a possible sale. What did CNBC host Jim Cramer say just a couple of weeks ago? We have the receipts: Western Alliance is back and it's stronger than ever!! that's the big takeaway so far! — Jim Cramer […]
Market cap of regional banks collapse 70% since January, data show
Everything is fine. The U.S. banking system is “sound and resilient.” Don’t panic. Your deposits are safe. The banking crisis has been resolved. These have been the clarion calls of the Biden administration, the Federal Reserve, the Treasury Department, and Jim Cramer. Well, not quite. It looks like PacWest and Western Alliance are next to […]
Will PacWest Bancorp become the next bank failure? Stock crashes as much as 36%, shares halted multiple times
Will PacWest Bancorp be the next financial institution to fail? Investors certainly think that this is the next regional entity to crumble. On Tuesday, PacWest tanked as much as 36 percent, and saw its trading halted several times on volatility. The good news is that most of its deposits are not uninsured. But it does […]