by Ken Chase | Mar 24, 2023 | Financial, News
Estimated reading time: 2 minutes Federal Reserve Chair Jerome Powell announced yet another interest rate hike during a press conference on Wednesday. That announcement has been largely credited for a drop in the Dow Jones, as stocks plunged by more than 500 points....
by Ken Chase | Mar 24, 2023 | Banks, News
Estimated reading time: 2 minutes Regional bank Pac West Bancorp has secured a $1.4 billion line of credit from an Atlas SP Partners finance facility as part of its effort to boost liquidity, after customers withdrew roughly 20% of their deposits in the first few...
by Ken Chase | Mar 13, 2023 | Banks, News
Estimated reading time: 2 minutes The Treasury Department, Federal Reserve Board, and Federal Deposit Insurance Corporation issued a joint statement on Sunday confirming that all Silicon Valley Bank uninsured deposits will be fully covered. The same announcement...
by Ken Chase | Feb 21, 2023 | Banks, News
Estimated reading time: 2 minutes Major banks have recently weighed in with their expectations for additional Federal Reserve interest rate hikes, forecasting that the central bank will raise those rates three more times before the end of 2023. That’s according to...
by Ken Chase | Feb 6, 2023 | News
Estimated reading time: 2 minutes The Federal Reserve announced yet another interest rate hike this week, as it continues its efforts to rein in stubbornly high inflation. Unlike its most recent rate hikes, however, this increase was a more modest boost of a quarter...
