Economy

Yellen tries to reassure Americans that bank collapse fallout will be contained

4:28pm March 16, 2023

by Scott Horsley

Treasury Secretary Janet Yellen says bank depositors can feel confident their money is safe. Yellen promised a thorough review of what went wrong at two regional banks that failed in the past week.

Credit Suisse shares soar after the bank secures a $54 billion lifeline

10:26am March 16, 2023

by Willem Marx

Shares of the Swiss banking giant rallied significantly Thursday after Switzerland's central bank agreed to lend it $54 billion.

Morning news brief

5:56am March 16, 2023

Financial markets are on edge over troubles at Credit Suisse. The Biden administration is demanding that TikTok be sold. New CDC data show the maternal mortality rate jumped over 40% in 2021.

Queue Listen Now

Press 1 for more anger: Americans are fed up with customer service

6:01pm March 15, 2023

by Manuela López Restrepo

A new survey shows Americans are unhappy with the service they're getting — and are not afraid to let people know about it.

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Shoppers browse at a grocery store in Washington, D.C. Retail sales dipped in February after surging in the previous month.

The unexpected American shopping spree seems to have cooled

8:52am March 15, 2023

by Alina Selyukh

Retail sales dipped 0.4% in February after a surprise start-of-the-year surge that appeared at odds with the Federal Reserve's goal of cooling down the economy.

Economy

Facebook's parent company Meta is laying off another 10,000 workers

7:25am March 15, 2023

NPR's Sacha Pfeiffer talks to Wall Street Journal reporter Sam Schechner about the layoffs which will cut about 12% of Meta's workforce. This round follows a previous cut of 11,000 jobs.

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For 40 years, Silicon Valley Bank was a tech industry icon. It collapsed in just days

5:00am March 15, 2023

by Jaclyn Diaz

Silicon Valley Bank was not a household name. For four decades, SVB successfully competed with big name financial institutions only to come crumbling down in a matter of days.

Economy

How will 2 bank failures affect the Federal Reserve's approach to inflation?

3:09am March 15, 2023

The Fed was watching closely Tuesday when the new report card on inflation was released. The Fed's efforts to combat inflation have been complicated by recent stresses in the banking industry.

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A security guard at Silicon Valley Bank monitors a line of people outside the office in Santa Clara, Calif., on March 13, 2023. The Fed will now need to factor in the impact of the collapse of the lender, along with Signature Bank, as it makes its next decision on interest rates.

The Fed already had a tough inflation fight. Now, it must deal with banks collapsing

4:24pm March 14, 2023

by Scott Horsley

Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.

Economy

Two U.S. banks have collapsed since Friday. Should you be worried?

4:12pm March 14, 2023

Two U.S. banks have collapsed since Friday. What does this mean for the average American? NPR's Mary Louise Kelly speaks with Jacob Goldstein about the future of the banking system in the U.S.