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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.

Economics 108
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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 128
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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 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 129
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World Bank Warns of Record Debt Costs for Developing Countries

The New York Times: Banking

The World Bank warned in a new report that poor countries will be stuck in economic “purgatory” without debt relief.

Debt 92
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Yellen Says Stable Financial System Is Key to U.S. Economic Strength

The New York Times: Banking

The Treasury secretary will offer an upbeat assessment of the economy on Tuesday, a year after the nation’s banking system faced turmoil.

Economics 116
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China’s GDP Grew in 2023, but Economic Strains Lurk

The New York Times: Banking

Gross domestic product expanded 5.2 percent, as China worked to export more to make up for weak demand, high debt and a steep property contraction at home.

Economics 134