Tag Archives Economic News

First Citizens Bank Strikes Deal To Acquire Collapsed Silicon Valley Bank

First Citizens Wins Takeover of Collapsed Silicon Valley Bank

In a deal with the Federal Deposit Insurance Corporation (FDIC), First Citizens BancShares Inc. snapped up a bulk of collapsed Silicon Valley Bank, just two weeks after a panic-induced run of deposits destroyed the lender’s finances in the second biggest U.S. bank failure since the 2008 financial crisis.

Share

Silicon Valley Bank Collapses As Regulators Seized Control

The closure of Silicon Valley Bank, the 16th largest U.S. bank marks the second-largest bank failure in history

Silicon Valley Bank collapsed Friday with financial regulators rushing in to seize control over the tech-focused lender’s assets and liabilities following a frenetic week that saw an unsuccessful attempt to raise capital triggering a depositor exodus.

Share

 Biden Says He Bears No Responsibility For Rising Inflation

President Biden claims that he inherited high inflation & refuses to take the blame despite inflation only being 1.4% when he entered office and ascending to a 40-year high of 9.1% in June 2022.

President Biden refused to take any responsibility for the high levels of inflation, claiming the elevated prices were a problem he inherited from his predecessor and that he is not to one to blame for the ongoing inflation crisis hitting Americans under his watch.

Share

U.S. Economy Adds Jaw-Dropping 517K Jobs In January; Crushing Expectations

January Unexpected Jobs Report Snapped a 5-Month String of Slowing Employment Growth

The U.S. economy added over half a million jobs in January, blowing expectations out of the water in the first month of the year — revealing that the labor market continues to remain strong despite the Federal Reserve’s aggressive monetary tightening in its fight to tame inflation.

Share

U.S. Hits Debt Limit, Triggering ‘Extraordinary Measures’ To Avoid Default

U.S. Hit Its Statutory Debt Limit, Setting Up Bitter Standoff Between Republicans & Biden

The U.S. government hit its statutory $31.4 trillion debt limit Thursday, Treasury Secretary Janet Yellen announced, prompting the Treasury to start taking “extraordinary measures” in order for the nation to avoid a catastrophic default for at least the next few months.

Share

Verified by MonsterInsights