San Francisco Fed leader Daly very likely not a major participant in SVB saga, officials say

San Francisco Fed leader Daly very likely not a major participant in SVB saga, officials say


Key Points
  • San Francisco Fed President Mary Daly’s district oversaw the second-largest bank failure in U.S. historical past.
  • Fed officers earlier and present explained regional presidents can be a lot more or significantly less involved in checking their largest banking companies, but the essential conclusions about plan and enforcement would have been taken in Washington.
  • The failure of Silicon Valley Lender elevated substantial questions about the Fed’s bank supervision and its failure to act additional forcefully on difficulties it experienced formerly determined.



Resource

Trump budget chief Vought ramps up criticism of Powell, vows investigation into Fed renovations
Finance

Trump budget chief Vought ramps up criticism of Powell, vows investigation into Fed renovations

Key Points Office of Management and Budget Director Russell Vought vowed Friday to press an investigation into renovations at the Federal Reserve building. “This is about the largesse and the fact that he has systemically mismanaged the Fed,” Vought told CNBC. The accusations represent another front on Trump’s ongoing campaign against Powell. Source

Read More
Stocks making the biggest moves premarket: Coinbase, Levi Strauss, AMC and more
Finance

Stocks making the biggest moves premarket: Coinbase, Levi Strauss, AMC and more

Check out the companies making headlines before the bell. Levi Strauss — The denim apparel stock rose 7% after second-quarter results topped expectations. Levi Strauss reported 22 cents in adjusted earnings per share on $1.45 billion of revenue. Analysts surveyed by LSEG were looking for 13 cents per share and $1.37 billion. The company also […]

Read More
Why 22 million people may see ‘sharp’ increase in health insurance premiums in 2026
Finance

Why 22 million people may see ‘sharp’ increase in health insurance premiums in 2026

Key Points The so-called “big beautiful bill” that President Donald Trump signed on July 4 cut taxes for many households. However, the law didn’t extend an enhanced premium tax credit that has lowered health insurance premiums for millions of Affordable Care Act enrollees in recent years. The tax break is slated to end after 2025, […]

Read More