Regional bank stocks looked set to rebound early Thursday as the market digested remarks made by Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen. Citigroup (ticker: C) CEO Jane Fraser added her vote of confidence into the mix, as she said the banking system is “pretty sound,” at the Economic Club of Washington … Read more
US Treasury Secretary Janet Yellen testifies before the Senate Finance Committee on the proposed budget request for 2024, on Capitol Hill in Washington, DC, March 16, 2023. Andrew Caballero-reynolds | Afp | Getty Images Treasury Secretary Janet Yellen said Tuesday the government is ready to provide further guarantees of deposits if the banking crisis worsens. … Read more
A tumultuous week in the U.S. financial markets ended on an uncertain note Friday after a massive $30 billion injection of big-bank deposits into First Republic Bank failed to calm investors. Last week, the sudden meltdown of three U.S. banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began to rekindle concerns … Read more