Finance
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Treasury Sec Bessent says there's a 'good chance' Trump will announce new Fed chair by Christmas
Trump has long criticized current Federal Reserve Chairman Jerome Powell for not slashing interest rates, despite having nominated him for the post in his first term. Powell's term ends in May, and he has so far rejected calls to resign early.
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Former Treasury Secretary Larry Summers announces step back from public life over Epstein ties
The House Oversight Committee released a trove of emails and documents last week between Epstein and several prominent politicians and former government employees, including Summers, who served under former President Bill Clinton.
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Stock market drops sharply a day after government shutdown ends; Dow sinks nearly 800 points
The tech-heavy Nasdaq Composite netted the most losses with a 2.5% slump, while the S&P 500 sank 1.8% as of publishing. The Dow closed with an 809 point loss, or 1.7%.
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Stock market's major indices mixed amid SVB uncertainties, bank trading halts
Doubts linger about the ability of the FDIC to backstop depositors in their entirety.
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Exchanges halt trading of several bank stocks, amid volatile trading after two banks fail
The stop in trading occurred shortly after the markets opened at 10 a.m. ET.
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Wall Street opens with losses, after two U.S. bank failures, feds attempt to secure banking system
Silicon Valley Bank failed Friday and Signature Bank failed Sunday.
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Biden to address nation on bank failures, vows to hold those responsible 'fully accountable'
Biden's remarks Monday are expected to attempt to reassure Americans the country has a “resilient banking system.”
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Silicon Valley Bank employees received annual bonuses hours before collapse: report
The amount of the bonuses is uncertain, but previous years' bonuses have been as much as $140,000.
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Amazon halts construction on second HQ in Virginia
A spokesperson for Amazon indicated the construction would again move forward later in 2023 but that the final completion date remained unclear.
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Vanguard's break with ESG investing clouds practice's future viability
"Our research indicates that ESG investing does not have any advantage over broad-based investing," said the asset management firm's CEO Tim Buckley.
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Inflation gauge Consumer Price Index increased 5.4% in January, compared to 12 months prior
The report also shows consumer prices rose 0.6% from December 2022 to January 2023.
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U.S. trade deficit surges to record high of nearly $950 billion
Exports increased 17.7% last year to $3 trillion, while imports rose 16.3% to $4 trillion, data shows.
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European Central Bank raises interest rates by half-point, twice that of US Fed hike
Some areas of the European Union saw inflation rates as high as 23.1% last year.