18 minutes ago
Banks may turn to stricter lending practices, negating need for Fed tightening, says Yellen
U.S. Treasury Secretary Janet Yellen believes banks will start restricting lending and the Fed may stop raising rates.
Yellen told CNN on Saturday that the threat of further repercussions from the collapse of the Silicon Valley Bank has been maintained thanks to successful policy actions, but that outflows have stabilized substantially.
“Banks are likely to be a little more cautious in this environment,” Yellen said. “Before that episode, we had already seen some tightening of lending standards in the banking system, and they may continue to do so.”
Yellen added that further tightening could “replace further rate hikes needed by the Fed.”
— Brian Evans
35 minutes ago
These are some of the companies reporting quarterly results this week
53 minutes ago
Wall Street is having a winning week
Despite Friday’s decline, the leading average posted solid week-to-week gains, another sign of the resilience of this market.
The Dow rose for the fourth straight week, up 1.2%. Meanwhile, the S&P 500 and Nasdaq Composite posted their fourth weekly gains in five weeks, up 0.8% and 0.3% respectively.
— Fred Imbert
