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.
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.
Yellen Warns U.S. Will Hit Debt Limit In Less Than a Week
The U.S. To Hit Debt Ceiling In Less Than A Week, Spending Fight Battle Brewing On Capitol Hill
The U.S. is expected to reach its borrowing limit next Thursday, causing the Treasury Department to begin deploying “extraordinary measures” that buys the federal government enough time to starve off the specter of a debt default until at least early June as Washington kicks off a contentious debt ceiling battle.
Dimon Ridicule Crypto Tokens As ‘Pet Rocks’
Dimon: "Crypto tokens are like pet rocks, and people are hyping this stuff up"
JPMorgan Chase CEO Jamie Dimon ridiculed cryptos as a “complete sideshow” that are useless as “pet rocks” while bashing regulators for beating up on big banks instead of focusing on the growing crypto industry.
Yellen: Fed Will Need ‘Luck’ & ‘Some Skills’ To Get ‘Soft Landing’
Treasury Sect. Yellen says the Federal Reserve needs "luck" and skills to avoid an economic crash
Treasury Secretary Janet Yellen struck a hopeful tone in the Federal Reserve achieving a soft landing, saying the Central Banks will need some “luck” and “some skills,” but warned that a looming recession will be a “risk” for the Biden administration in the upcoming months.
Biden Torches GOP as ‘Dangerous and Disgraceful’ For Blocking Debt Ceiling Hike
President Biden urged Republicans to back off playing “Russian roulette with the American economy” and help Democrats raise the debt ceiling ahead of the looming default deadline while torches the opposing party’s as “hypocritical, dangerous and disgraceful” in blocking the increase twice last week.