US authorities are weighing an expansion of an emergency lending facility

US authorities are weighing an expansion of an emergency lending facility, per Bloomberg. A potential adjustment to the Federal Reserve’s emergency lending program announced on March 13 is among options authorities have weighed in recent days, according to people with knowledge of the deliberations. Any expansion of the Fed’

U.S. Banks are sitting on $1.7 trillion in unrealized losses

The collapse of several banks has raised concerns about the safety of the US banking system. Regulators and business leaders have been assuring consumers that banks are safe, and that the potential for contagion throughout the financial system is slim. Rising interest rates have led to unrealized losses, and US

openai

68% of ChatGPT users at work say they haven't told their bosses

Per Business Insider With over 43% of professionals reportedly using ChatGPT at work, 68% said they did not tell their bosses. This came from a survey by Fishbowl, which involved 11,700 workers from Jan 26 to 30. This was an update to an earlier survey in January with around

alphabet

Alphabet (Google's parent company) employees signed a petition for demands to CEO Pichai for a better layoff process

Per Bloomberg Employees at Google's parent company, Alphabet, have just signed a petition and an open letter detailing their demands for the company's CEO, Sundar Pichai, regarding its layoff process. The letter detailed the different demands of company employees. Here are some of the demands made

real estate

30-year mortgage rates drop from 6.6% to 6.42% after the second straight week of decline

Per ABC News The 30-year mortgage rates dropped from 6.6% to 6.42% after its second consecutive week of decline. These changes could positively affect homebuyers as the spring buying season is scheduled to start. A year ago, the average rate for 30-year mortgages was at 4.42%, exactly

doubleline

DoubleLine founder Jeffrey Gundlach says Feds would cut rates soon

Per Jeffrey Gundlach on Twitter Founder of DoubleLine, Jeffrey Gundlach, believes that the Feds would soon cut its rates. He specified on Twitter that they would do so "substantially." Gundlach also mentioned that he was wrong 30% of the time, and because of this, people should factor in

white house

Former White House advisor Gary Cohn: 'The Fed has lost control'

Per Business Insider The former White House advisor, Gary Cohn, has shared his thoughts on the Federal Reserve, saying it has "lost control." This was within a statement where Cohn, the now director of the National Economic Council, said that Cohn actually outsourced monetary policy. This came as

TikTok CEO answers Congress

“TikTok itself is not available in mainland China, we’re headquartered in Los Angeles and Singapore, and we have 7,000 employees in the U.S. today,” he said in his opening remarks. “Still, we have heard important concerns about the potential for unwanted foreign access to US data and

Yellen says the US Treasury is ready to take ‘additional actions if warranted’ to stabilize banks, changing her comments from yesterday

US Treasury Secretary Janet Yellen has said that emergency measures used to back Silicon Valley Bank and Signature Bank customers could be used again if required. Yellen added that the federal government would take additional measures if needed to ensure that American deposits were safe. The statements came as smaller

ford

Ford expects 2023 EV unit losses to reach $3 billion

Ford has disclosed a new financial reporting structure revealing it expects its EV unit to bring the company $3 billion in losses this year. The company's EV businesses are divided into two, Ford Blue and Ford Pro. Ford Blue is the company's arm responsible for selling

ftx

FTX lawyers cost the disgraced crypto firm $38 million for Jan alone, with new CEO John Ray III billing $305,565 for Feb

Per BI After the collapse of FTX, the disgraced crypto firm had to employ hundreds of lawyers, consultants, and accountants, among others, to investigate what happened. In January alone, the crypto firm was billed $38 million for the services of the hundreds hired. CoinDesk cited court records showing how law

bank of england

Bank of England tries to fight against inflation by raising interest rates by a quarter percentage to 4.25%, its highest since 2008

Per CNN The Bank of England has raised interest rates for the 11th consecutive time, reaching its highest point since 2008 at 4.25%. This came after the bank unexpectedly rose rates by a quarter of a percentage point on Thursday. The Bank of England is taking measures to fight

elizabeth warren

Elizabeth Warren explains skepticism of a system that keeps student loan borrowers struggling while bailing out billion-dollar crypto firms

Per NYT Senator Elizabeth Warren explains the reason why many people are skeptical of the system. She pointed out that the system would prioritize billion-dollar crypto firms instead of helping the remaining millions of Americans that still struggled with student loans. Warren: "It’s no wonder the American people

bernie sanders

Senator Bernie Sanders plans to push a bill to block bank executives from serving on overseeing boards

Per NYT Senator Bernie Sanders was among those that shared their sentiment regarding how Greg Becker, the CEO of Silicon Valley Bank, actually sat on the board of directors for the Federal Reserve Bank of San Francisco until March 10. The senator is pushing a bill that would prevent this

84% of Americans, including strong majorities of Republicans and Democrats, think taxpayers should not have to pay to resolve problems caused by irresponsible bank management

Per reuters: A bipartisan majority of Americans oppose U.S. taxpayers footing the bill when bad management causes a bank to fail, though Republican opposition to bank bailouts has softened over the last decade, a Reuters/Ipsos poll completed on Wednesday found. The poll’s results point to a potential

Coinbase Global, $COIN, has said it got a Wells Notice from SEC Staff in their Item 7.01 Regulation FD Disclosure

Coinbase Global, $COIN, has said it got a Wells Notice from SEC Staff in their Item 7.01 Regulation FD Disclosure. Reuters reports: The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase. The potential enforcement actions would be tied to aspects of Coinbase's spot

Yellen: We are not considering insuring all uninsured bank deposits

Yellen said: We are not considering insuring all uninsured bank deposits. Yesterday she said: the US financial system is safest and most liquid in the world. Last week, Yellen said deposits in US. Banks will be guaranteed only if a systemic risk determination is issued. Yellen said: “A bank only

SEC Charges Eight Celebrities due to undisclosed TRX, Tron paid advertising

The US Securities and Exchange Commission (SEC) has filed charges against Justin Sun, the founder of cryptocurrency Tron, and eight celebrity backers of the project, including Lindsay Lohan, Jake Paul, and Soulja Boy. Sun is accused of manipulating the trading of Tronix and BitTorrent tokens, creating the appearance of active

FOMC March 22 statement

Recent indicators point to modest growth in spending and production. Job gains have picked up in recent months and are running at a robust pace; the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Recent developments are likely to result in

jeremy siegel

Jeremy Siegel: 'Fed shrapnel killed this bank and may send the economy into recession in the process'

Per Fortune In an opinion piece on Fortune by Jeffry Sonnenfeld, Jeremy Siegel, and Steven tan, statements were made saying that the "Fed shrapnel" was the reason why Silicon Valley Bank imploded. The piece said that the economy could be sent into recession. "Make no mistake about

survey

Survey finds that 84% of Americans don't think taxpayers should resolve the current bank problems

Per Reuters A recent poll by Reuters/Ipsos, interviewing 1,004 people nationwide and conducted online, found that 84% of Americans don't think taxpayers should have to pay for settling banking problems, specifically when caused by management failure. The majority of participants, both Republicans, and Democrats, voted that

dallas

Former Dallas Fed President Richard Fisher: 'I don't think the Fed should pause the 25 basis point hike'

Per CNBC The former President of the Dallas Federal Reserve, Richard Fisher, has shared his thoughts on the recent crisis that started with the collapse of Silicon Valley Bank. He said that the Feds shouldn't raise rates and that the banks failed when it came to managing risk.

imf

IMF to offer Ukraine a four-year financing package worth around $15.6 billion

Per USA News The International Monetary Fund has decided to provide Ukraine with a four-year financing package worth around $15.6 billion. As of 2017, the largest member of the IMF was the United States, with a quota of $118 billion during the time of reporting. The $15.6 billion

jpmorgan

JPMorgan says Feds are past the point of no return: 'a soft landing now looks unlikely'

Per Fortune JPMorgan has given new forecasts regarding the recession, and in a recent statement, they said that the Feds were past the point of no return. This came as the firm was among the multiple banks that had to rewrite their recession forecasts. While the economy experienced small victories

California, which has the US’s highest rate of homelessness, will likely ask voters to approve billions of dollars more in spending to help address a crisis that’s spilled onto the streets of every major city in the state

California, which has the US’s highest rate of homelessness, will likely ask voters to approve billions of dollars more in spending to help address a crisis that’s spilled onto the streets of every major city in the state, per Bloomberg. Governor Gavin Newsom plans to ask the Democratic-controlled