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Articles on US Federal Reserve

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Tense times: Fed chairman Jay Powell. EPA

Is the US banking crisis over?

A swift intervention by the US Federal Reserve has kept most banks on their feet, but September/October is often the time when financial crises come to a head.
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

War in Ukraine might give the Chinese yuan the boost it needs to become a major global currency – and be a serious contender against the US dollar

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.
Another U.S. bank bit the dust. AaronP/Bauer-Griffin/GC Images via Getty Images

Recent banking crises are rooted in a system that rewards excessive risk-taking – as First Republic’s failure shows

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.
Fed chair Jerome Powell opted for a cautious approach on rates. Alex Wong/Getty Images

Federal Reserve bows to bank-crisis fears with quarter-point rate hike, letting up a little in its fight against inflation

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.

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