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Goldman Sachs has revised its U.S. interest rate forecast due to “stress in the banking system.” The global investment bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC) meeting in March after the central bank announced measures to rescue depositors of failed Silicon Valley Bank and … Read more
U.S. Treasury Secretary Janet Yellen has ruled out a government bailout of the collapsed Silicon Valley Bank (SVB), which was shut down by regulators on Friday. Yellen explained that the reforms put in place after the 2008 financial crisis were aimed at preventing the need for government bailouts. Government Not Considering a Bailout for SVB, … Read more
On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg Becker insists that the financial institution “will be well positioned” … Read more
Switzerland’s “crypto valley” is asking the government for 100 million Swiss francs ($102.7 million) in funding, local media reported. The once flourishing Swiss cryptocurrency industry is struggling to survive following the withdrawal of private equity investors. About 80% of 203 firms surveyed by the Swiss Blockchain Federation recently warned of imminent bankruptcy. Only half of … Read more
