Good morning to yet another day of the bank crisis. Phil Rosen here — can you believe it's been almost two months since Silicon Valley Bank collapsed?
But here we are still talking about which banks could be next to fall.
Hiya! Dan DeFrancesco in NYC. The Fed bumped rates again — surprise, surprise — but could this finally be the end?
May the Fourth be with you, friends. I'm Diamond Naga Siu, and I'm a proud dollar coin owner. But you know what I'd love even more than a $1 coin? A $1 trillion dollar platinum coin.
Happy Friday eve, readers. Phil Rosen here. Surprising no one, the Fed raised interest rates by 25 basis points yesterday.
That puts the Fed Funds Rate above 5% for the first time since 2007. Remember, the higher that goes, the more expensive it becomes for consumers and businesses to borrow.
What do you prioritize in a job? I'm Diamond Naga Siu, and in this turbulent economy, I definitely want stability over most other things.
All eyes are on the Fed today as officials ready their decision on what could be the final rate hike of the cycle.
As of last night, traders assigned a 82% probability to a 25 basis-point increase, while they see an 18% chance of no change at all.
We'll hear from central bank chief Jerome Powell today at 2 p.m. ET, shortly after the policy announcement.
Below, we're covering everything to know for the big day.
Hey there! Dan DeFrancesco in NYC, and we've got an update on the cocaine hippos, which are now wreaking havoc across Colombia.
It's tech Tuesday. I'm Diamond Naga Siu, and I've been working hard to meet people in San Diego. I attended my first rodeo, woke up early for a farmers' market, visited different pickleball venues, and tried other new things.
Good morning, team. I'm Phil Rosen. If you missed it Monday, regulators seized First Republic Bank and JPMorgan took over the majority of its assets.
Welcome back! Dan DeFrancesco in NYC.
Today, we've got stories on job cuts at Lazard, why the payment industry is broken, and how to get a jump start on Mother's Day.