Federal regulators will testify before the House Financial Services Committee on March 29 about the Silicon Valley Bank (SVB) and Signature Bank collapses, according to a press release.
The consumer price index, a key measure of inflation, rose 0.4% in February, up 6% from February 2022, the U.S. Bureau of Labor Statistics reported on Tuesday.
The Federal Deposit Insurance Corp. (FDIC) and Federal Reserve are discussing creating a fund to backstop deposits if more banks fail following the collapse of Silicon Valley Bank.
House Majority Whip Tom Emmer (R-MN) believes the Biden administration is "currently itching to create a digital authoritarian-style, surveillance-style digital dollar through an executive order.”
