Federal Reserve

Customers of small U.S. banks pulled a record $119.9 billion of deposits in the seven days ending March 15, data released by the Federal Reserve showed Friday.

Biden's current approval rating is 38%, his lowest rating being 36% in July 2022.

Ted Cruz introduces legislation to prevent the U.S. Federal Reserve from creating a digital currency to avoid financial surveillance and government control over Americans' financial information.

During an interview with CBS News on Tuesday, Moody’s Analytics Chief Economist Mark Zandi stated that the problems in the banking industry are the inevitable result of rate hikes by the Federal Reserve where “things are going to start to wobble and break and it’s going to feel uncomfortable.”

The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history.

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. 

A group of banks announced a $30 billion rescue of First Republic Bank on Thursday afternoon as part of efforts to stabilize the market.

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.

President Joe Biden revealed the third budget of his presidency, proposing to spend $6.8 trillion and raise taxes by approximately $5 trillion.