In other single-stock moves, Ke圜orp ( KEY) advanced nearly 7% Tuesday after tumbling in the previous trading session. Powell testifies before a House Financial Services hearing on "The Federal Reserve's Semi-Annual Monetary Policy Report" on Capitol Hill in Washington, U.S., March 8, 2023. “The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve,” Fed Chair Jerome Powell said in a statement.įederal Reserve Chair Jerome H. The review will be led by Michael Barr, the Fed vice chair for supervision. The results will be publicly released by May 1, the central bank said on Monday. Data from CME Group shows that 80% of traders are expecting a 25-basis-point-rate hike at the Fed's March meeting, while 20% anticipate rates unchanged, a dramatic shift from last week.Īlso, the Fed said it would conduct a review of the fallout of Silicon Valley Bank. So far, market participants are quickly shifting their expectations over the Fed’s next move. “inflation risks,” according to the US Market Intelligence team at JPMorgan. Meanwhile, the market will likely be “wrestling” with the Fed’s path as it has to “weigh financial stability” vs. The question remains: Who will be a contender to scoop up SVB’s remaining assets following the FDIC’s takeover? The FDIC was hoping to sell the bank’s assets on Sunday but instead created a bank to store SVB’s deposits and announced that depositors would be made whole. This content is not available due to your privacy preferences.
0 Comments
Leave a Reply. |