JPMorgan Chase CEO Jamie Dimon sharply criticized former President Donald Trump on Thursday, saying the 2024 presidential candidate doesn’t understand the debt ceiling and what is at stake. It is just “one more thing he doesn’t know very much about,” Dimon told Bloomberg Television.
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When the US Federal Reserve embarked on an aggressive campaign to quash inflation last year, it did so with the goal of avoiding a painful repeat of the 1970s, when inflation spun out of control and economic malaise set in.
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The Federal Deposit Insurance Corporation is advocating for an increase in the deposit insurance limit for business payment accounts following the three recent bank failures.
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Persistent inflation remains the Federal Reserve’s No. 1 concern, even as the banking sector remains on edge after two big bank failures last month. This week’s Consumer Price Index, due to be announced Wednesday at 8:30 am ET, could determine whether the central bank raises rates again in May.
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US consumers are starting to feel that credit is getting harder to come by, according to survey results released Monday by the Federal Reserve Bank of New York.
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After months of a remarkably strong US labor market and economy, everything seems to be slowing down.
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The banking crisis that caused US officials to launch emergency interventions is unlikely to have significant direct costs for the federal government, according to Moody’s Investors Service.
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Silicon Valley Bank’s downfall sent waves of panic through the financial system in early March, setting off a chain reaction of chaos with which regional banks are still grappling.
