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Tuesday, March 21
by
ABC News
Experts answer questions on home, car buying amid high interest rates and banking crisis
(NEW YORK) -- As fallout continues from the Silicon Valley Bank collapse -- the second-biggest bank failure in U.S. history -- people across the country are simultaneously feeling the impact of inflation in their pocketbooks.The Federal Reserve will meet Wednesday to decide whether to ...
Tuesday, March 21
by
ABC News
Yellen says bank ‘situation is stabilizing,’ smaller banks play important role
(WASHINGTON) -- Treasury Secretary Janet Yellen said Tuesday that "the situation is stabilizing and the U.S. banking system remains sound," after regional bank failures have shaken the U.S. banking system."The Fed's facility and discount window lending are working as intended to provide liquidity to ...
Tuesday, March 21
by
ABC News
The banking crisis threatens the Fed’s inflation fight. Here’s how.
(NEW YORK) -- The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, has thrust the financial system into distress, pulling attention away from a separate problem: sky-high inflation.The twin economic challenges pose a dilemma for the Federal Reserve because its ...
Tuesday, March 21
by
ABC News
Yellen to say bank ‘situation is stabilizing,’ smaller banks play important role
(WASHINGTON) -- Treasury Secretary Janet Yellen plans to say during a speech on Tuesday that “the situation is stabilizing and the U.S. banking system remains sound,” according to excerpts of her prepared remarks provided by the Treasury Department.“The Fed facility and discount window lending ...
Monday, March 20
by
ABC News
Fed was aware of Silicon Valley Bank problems more than a year before its collapse
(WASHINGTON) -- The Federal Reserve was aware of risks to Silicon Valley Bank more than a year before its collapse, ABC News confirmed on Monday following a New York Times report.Even more, ABC News has confirmed a Wall Street Journal report that the Fed ...
Monday, March 20
by
ABC News
New to electrification? Try a plug-in hybrid first
(NEW YORK) -- Let's be honest: electric vehicles can get a bad rap.Maybe it's range anxiety. Or the scarcity -- and uncertainty -- of public charging stations. Both are valid reasons why some Americans are dubious of electric vehicles.More industry watchers are now arguing ...
Saturday, March 18
by
ABC News
‘Uncharted territory’: How would a TikTok ban in the US work?
(NEW YORK) -- Awkward dads and their eager children may not dance together on TikTok for much longer -- at least not in the U.S.The prospect of a nationwide TikTok ban has escalated from a theoretical possibility to a serious policy consideration, drawing growing support ...
Friday, March 17
by
ABC News
Here’s who’s made money amid the Silicon Valley Bank turmoil
(NEW YORK) -- A string of bank collapses in recent days sent panic rippling through the financial sector, prompting an extraordinary U.S. government intervention to save depositors and a sharp drop for bank stocks in the U.S. and Europe.Some people and institutions, however, made ...
Friday, March 17
by
ABC News
Class action suit filed against Silicon Valley Bank’s parent company, executives
(NEW YORK) -- SVB Financial Group and top executives have been named in a federal lawsuit amid the collapse of Silicon Valley Bank, the largest bank failure since the 2008 financial crisis.A shareholder from Wisconsin, who says he lost about $12,000, is named as ...
Friday, March 17
by
ABC News
Pension funds report millions in losses amid Silicon Valley Bank collapse
(NEW YORK) -- An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse.The State Teachers Retirement System (STRS) of Ohio stated that the shares represented a minuscule portion ...
Thursday, March 16
by
ABC News
OpenAI CEO Sam Altman says AI will reshape society, acknowledges risks: ‘A little bit scared of this’
(NEW YORK) -- The CEO behind the company that created ChatGPT believes artificial intelligence technology will reshape society as we know it. He believes it comes with real dangers, but can also be "the greatest technology humanity has yet developed" to drastically improve our ...
Thursday, March 16
by
ABC News
Ford recalling over 1 million cars over brake hose issue
(NEW YORK) -- Ford announced this week that it is recalling more than 1.2 million of its vehicles over a serious issue with its brake fluid hoses.The National Highway Traffic Safety Administration said Ford Fusions and Lincoln MKXs sold between 2013 and 2018 have ...
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