Economy

Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on Feb. 1, 2023. The Fed on Wednesday raised interest rates again, opting to continue its fight against inflation despite turmoil in the banking sector.

The Fed raises interest rates again despite the stress hitting the banking system

7:14pm March 22, 2023

by Scott Horsley

The Federal Reserve raised its benchmark interest rate by a quarter percentage-point in an effort to curb high inflation. Some had called for the Fed to wait after two recent bank failures.

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Economy

The Fed must decide whether to press ahead with raising interest rates

8:08am March 22, 2023

NPR's Leila Fadel talks to Peter Conti-Brown of The Wharton School about whether the Fed keeps raising interest rates. The increases so far have eased inflation, but also put stress on some banks.

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Economy

Fed is expected to boost its benchmark interest rate by a quarter percentage point

5:14am March 22, 2023

The Federal Reserve will decide Wednesday whether to keep raising interest rates to combat high inflation. The decision has been clouded by recent turmoil in the banking system.

Treasury Secretary Janet Yellen said that depositors at small banks could be eligible for the same kind of protection extended to customers at two regional banks that failed this month. Yellen made the remarks at a speech she delivered to the American Bankers Association on March 21, 2023.

Janet Yellen says the U.S. is ready to protect depositors at small banks if required

5:15pm March 21, 2023

by Scott Horsley

The Treasury Secretary said the administration is committed to protecting the U.S. banking system and customers who trust their money to it.

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An unhoused individual sleeps under an American flag blanket in New York City on Sept. 10, 2013. In 2021, approximately 11% of Americans lived below the federal poverty line.

Private opulence, public squalor: How the U.S. helps the rich and hurts the poor

4:41pm March 21, 2023

by Dave Davies

Poverty, by America author Matthew Desmond says if the top 1% of Americans paid the taxes they owed, it would raise $175 billion each year: "That is just about enough to pull everyone out of poverty."

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Why should you care about the knotty problems of the banking world? Below are a few possible consequences to watch.

Could the banking turmoil affect you? 5 ways it might

3:22pm March 21, 2023

by Alina Selyukh

There are possible consequences for regular people, small businesses and the economy.

Economy

The Federal Reserve tries to limit any further damage to the banking system

8:06am March 21, 2023

The Federal Reserve is facing a decision this week on whether to raise interest rates again to fight inflation or take a breather to avoid putting more stress on the banking system.

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Need a consultant? This book argues hiring one might actually damage your institution

6:31am March 21, 2023

by Greg Rosalsky

A new book argues the consulting industry is weakening businesses, harming the government, and distorting the economy.

Economy

Positive Path Program aims to job train young workers who face barriers to employment

4:38pm March 20, 2023

by David Ford

The City of Winston-Salem is offering temporary part-time training for young people who are facing obstacles to employment.

An 'open house' flag is displayed outside a single family home on September 22, 2022 in Los Angeles, California. The U.S. housing market is seeing a slow down in home sales due to the Federal Reserve raising mortgage interest rates to help fight inflation.

Economy

Are you trying to buy a home? Tell us how you're dealing with variable mortgage rates

3:21pm March 20, 2023

by Juma Sei

Recent high and fluctuating mortgage rates, compounded by bank closures, have created a challenging time in the housing market. NPR wants to know how you are navigating buying or selling a home.