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Banks Could Weather Even Extreme Economic Tumult, Fed Finds

The New York Times: Banking

The Federal Reserve for the first time tested major banks’ ability to withstand crisis scenarios — and the largest U.S. lenders stood tall.

Bank 88
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Scott Bessent Accuses IMF and World Bank of ‘Mission Creep’

The New York Times: Banking

Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.

Economics 118
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Bank of England Holds Rates Steady Amid Signs of Weakening Economy

The New York Times: Banking

Britain’s central bank said that interest rates would need to remain high for an “extended” period, and that economic growth was expected to be flat over much of the next two years.

Bank 111
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Russia’s Wartime Spending Raises Fears of an Economic Bubble

The New York Times: Banking

The economic strength has helped to maintain popular support for Vladimir Putin’s war, but some have warned the state-led spending is threatening the country’s financial stability.

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Bank of Japan Raises Interest Rates for Second Time Since 2007

The New York Times: Banking

The closely watched move by the Bank of Japan could bolster the country’s beleaguered currency.

Bank 138
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Lebanon Detains Riad Salameh, Former Head of Central Bank

The New York Times: Banking

Riad Salameh, once seen as an international financial wizard, is the subject of multiple inquiries and has attracted blame for the country’s economic crisis.

Economics 117
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Fed Chair Says Central Bank Need Not ‘Hurry’ to Cut Rates

The New York Times: Banking

Jerome Powell said that strong economic growth gives Federal Reserve officials room to be patient, and he emphasized the institution’s political independence.

Economics 128