China and the U.S. compete to be the world’s largest economy, but the dollar dominates the yuan as a currency.
peng song/Moment Collection/Getty Images
Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.
‘Default doomscrolling’ again, Mr. Powell?
Kimimasa Mayama/Pool Photo via AP
The cause of banking crises since the debacle in the 1980s remains unchanged. Incentives encourage executives to take excessive risks, with few consequences if bets turn bad. It’s happening again.
Tech support for investors.
Darunrat Wongsuvan/Shutterstock
The Fed’s campaign of rate hikes is showing more signs of having the intended effect of slowing the economy – but that may be bad news for those who lose their jobs or have a harder time finding one.
Thousands of banks failed in the Great Depression.
Bettmann via Getty Images
Crises fueled by bank runs, starting with the Great Depression, have had something in common: Unexpected changes spur bank failures, followed by general panic and then large-scale economic distress.
Trying to maintain some stability.
David Gyung/Shutterstock
The Fed raised rates by a quarter-point – less aggressive than had been expected before the current banking crisis, but signaling inflation is still its focus.
Decision time: Jerome Powell, chair of the Federal Reserve.
The Photo Access/Alamy
The Fed, Treasury and FDIC acted swiftly to protect depositors and stem any panic, but anxiety continues to grow about the state of the global financial system.
Fed Chair Jerome Powell has a tricky job in balancing inflation fears with recession fears.
AP Photo/Jose Luis Magana
The latest consumer prices report shows cost of living is still rising far above the Fed’s target. But don’t expect monetary policymakers to aggressively hike rates.
Signature Bank collapsed at lightning speed.
AP Photo/Yuki Iwamura
Lenders face a lot of risks, but two of them – interest rate and liquidity – were the main drivers of the sudden and rapid failure of Silicon Valley Bank and Signature Bank. That’s why more trouble may be ahead for the banking sector.