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silicon valley bank
One analyst said this interest rate increase, the ninth in the past year, shows the Fed's "willingness to roll the dice" with the economy.
Most economists expect the Federal Reserve to announce a relatively modest quarter-point hike in its benchmark rate, its ninth hike since March of last year.
"I just lost half my money to this banking thing, and that doesn’t mean that I’m not here," Stone said at the Women's Cancer Research Fund gala.
The president says regulators should be able to "claw back compensation from executives."
WHAT'S HAPPENING
WHAT'S HAPPENING
The Biden administration said it will guarantee uninsured deposits at both Silicon Valley Bank and Signature Bank.
SVB Financial Group is no longer affiliated with Silicon Valley Bank after its seizure by the Federal Deposit Insurance Corp.
The Justice Department and the Securities and Exchange Commission have launched investigations into the Silicon Valley Bank collapse.
Congress made stricter bank oversight optional in 2018, and lawmakers who backed the bill said regulators still had the tools they needed.
The Senate leader donated campaign contributions related to the failed bank to charities, a spokesperson said.
After a frenetic weekend of round-the-clock briefings, U.S. policymakers took the audacious step of guaranteeing all the deposits of the failed Silicon Valley Bank.
