![]() ![]() ![]() “A particular focus for us now over the past six, seven weeks now and going forward is what’s happening with credit tightening,” Powell said at a press conference on Wednesday. This was supposed to not only keep banks from crashing but return them to their normal business operations of lending. As a matter of economic policy, it is almost tweaking at the margins. So far, the extent of the Fed’s bank management after the crash of Silicon Valley Bank in March is in special lending programs, which have given out hundreds of billions of dollars in cash and emergency loans so far. It has become something of a parlor game on Wall Street these past few weeks to pick which bank will be next to fail, and it feels, at this moment, as if it really could be any of them that aren’t already considered “systemically important” - the Fed’s preferred language for a bank that’s too big to fail. On Thursday, another large regional bank, NorthWest Alliance, fell more than 60 percent after the markets opened. banking system is sound and resilient,” the California lender PacWest announced it was looking to sell itself, an admission that it could not survive on its own. Just hours after Powell stated that “the U.S. With rate hikes off the table, perhaps the most important tool at the Fed’s disposal - and the one that deserves the most attention right now - is overseeing the banks. Here’s a way to think of what comes next: We are entering a period when the world’s most important central bank will have to keep not only prices from spiking but the rest of the economy from imploding. In this context, Powell would probably say the consequences of the hikes have been worth it, yet it’s also clear that he and his colleagues have pushed rates about as high as they reasonably can and that yesterday’s meeting marked (unofficially, anyway) the beginning of a new phase for the Fed in managing this fragile but apparently still strong economy. But inflation is coming down, and on Friday, the unemployment actually fell to 3.4 percent after employers added 253,000 jobs. ![]() We’ve seen a few banks collapse (and one or two more that seem headed for it), the housing market stall out, commercial real estate enter a crisis phase, and crypto get boring again. “We may not be far off, or possibly even at, that level” where it would stop, Fed chair Jerome Powell said in a news conference after announcing the move. But raising interest rates from basically zero (where they were early last year) to more than 5 percent is a big deal in a $25 trillion economy - the kind of thing that has consequences. On Wednesday, the Federal Reserve raised interest rates for the tenth straight time in 15 months - the most aggressive hiking cycle in 40 years - then signaled, after reaching the highest level in 16 years, that it could be done. Just search for your destination and secure your reservation today.Photo-Illustration: Intelligencer Photo: Getty Imagesįor the past year or so, the Federal Reserve has been focused on one thing: keeping prices stable, preventing another head-spinning spike in groceries and cars and just about everything else U.S. RentByOwner makes it easy and safe to find and compare vacation rentals in Fawn Creek with prices often at a 30-40% discount versus the price of a hotel. Popular Airbnb-style properties in Fawn Creek. Huge master suite bedrooms and have large screen televisions? You can find vacation rentals by owner (RBOs), and other Looking for an RBO with the best swimming pools, hot tubs, allows pets, or even those with Homes? With RentByOwner Fawn Creek, you have the flexibility of comparing different options of variousĭeals with a single click. Looking for last-minute deals, or finding the best deals available for cottages, condos, private villas, and large vacation Get more value and more room when you stay at an RBO property in Fawn Creek. Have top-notch amenities with the best value, providing you with comfort and luxury at the same time. These rentals, including vacation rentals, Rent By Owner Homes (RBOs) and other short-term private accommodations, With more than 41 Fawn Creek vacation rentals, we can help you find a place to stay. ![]()
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