Federal Reserve Chair Jerome H. Powell confirmed that the U.S. Department of Justice has served the Federal Reserve with grand jury subpoenas, raising the specter of a potential criminal indictment connected to his testimony before the Senate Banking Committee last June.
The US Federal Reserve Board on Friday announced the results from the review of the supervision and regulation of Silicon Valley Bank, led by Vice Chair for Supervision Michael S Barr.
"Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," read the statement.
Washington D.C. [USA], May 18 (ANI): Federal Reserve Chairman Jerome H. Powell said on Sunday that the US economy will recover from the damage inflicted by the coronavirus pandemic but the process could stretch through end of next year.
Washington [USA], April 30 (ANI): The US economy is going to crash by an unprecedented 30 per cent in the second quarter (April to June) as Americans have been forced to shutter down their business and stay home to stem the spread of coronavirus, the Washington Post reported citing high-l