Tech Insider

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.

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A pedestrian walks by a First Republic bank on April 26, 2023 in San Francisco, California.
First Republic stock has plummeted in the wake of Silicon Valley Bank's demise.
Tech Insider

Welcome back, readers. I'm Phil Rosen. I hope you enjoyed this weekend's NBA playoffs and new episode(!) of Succession as much as I did. 

We have a lot of ground to cover today — starting with First Republic. The FDIC announced early this morning that the firm will be taken over by JPMorgan after being seized by regulators.

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Jerome Powell
Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, U.S., November 28, 2017.
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Happy Saturday, readers. I'm Phil Rosen. Let's talk about the dollar's role on the world stage — and see what one of the leading currency economists has to say about it.

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hand pulling down market
Andy Beal made a fortune for his bank after a massive bet on inflation.