February inflation data will be released. The federal government's move to cover depositors at two failed banks triggers debate. President Biden approves the Willow oil drilling project in Alaska.
The federal government's decision to rescue customer deposits in two failed banks raises questions about exceeding the cap for what's normally insured by the FDIC.
President Biden urged calm as markets roiled over the collapse of Silicon Valley Bank. After the FDIC takeover, customers of the bank have full access to their deposits.
The ruling mostly upholds a voter-approved law that said drivers for ride-share companies are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance.
The FDIC exists to help the banking system cope with exactly the type of crisis we're now seeing: When it was created in 1933, some 4,000 banks had closed in the first few months alone.
Despite President Biden's efforts to reassure markets and the government's backstop of customers' deposits, Wall Street remains worried about the risk of contagion.
ConocoPhillip's $8 billion Willow project in the Alaska's National Petroleum Reserve will move ahead. Biden put millions of acres off-limits to future oil drilling; environment groups aren't thrilled.