after careful analysis and deliberation, the boards of the fdic and the federal reserve voted unanimously to recommend and the treasury secretary in consultation with the president determined that the fdic could use emergency systemic risk authorities under the federal deposit insurance act. to fully protect all depositors in winding down svb and signature bank. it's worth noting that these two institutions were allowed to fail. shareholders lost their investment, unsecured creditors took losses. the boards in the most senior executives were removed. the fbi see has authority to investigate and held accountable the officers of banks for the losses they cause and for any misconduct in the management of the institutions and the fbi see has already commenced these investigations. further, any losses to the fdic deposit insurance fund as a result of uninsured deposit insurance coverage will be repaid by a special assessment on banks as required by law. the fbi see is now completed the sale of both bridge banks to acquiring institutions, new york community bank or plextor bank for signature an

after careful analysis and deliberation, the boards of the fdic and the federal reserve voted unanimously to recommend and the treasury secretary in consultation with the president determined that the fdic could use emergency systemic risk authorities under the federal deposit insurance act to fully protect all the depositors and winding down svb and signature bank. it's worth noting that these two institutions were allowed to fail. shareholders love their investment, unsecured creditors took losses. the boards and the most senior executives were removed. the fdic has authority to investigate and hold accountable the directors and officers of the banks for the losses they cause and for any misconduct in the management of the institutions and the fdic has already commenced these investigations. further, any losses to the fdic's deposit insurance fund as a result of uninsured deposits insurance coverage will be repaid by a special assessment on banks as required by the law. the fdic has now completed the sale of both bridge packs to acquiring institutions, your community bank for signature

second, the federal reserve. the bank term funding program a new facility to provide term funding to all insured depository institutions eligible for primary credits at the discount window. based on their holdings of treasury and agency debt securities. this program, along the existing pre-existing discount window has helped banks to meet depositor demands and bolster liquidity in the banking system. targeted approach is necessary these actions have helped destabilize deposits throughout the country and provide depositors with confidence their funds were safe. in addition to these actions on march 16, 11 banks deposited $30 billion in the first republic bank. the actions of these large and midsize banks represent a vote of confidence in the bank system. and demonstrate the importance of banks of all sizes working to keep our economy strong. the deposits in certain assets of signature bridge banks were acquired from the fdic's and on march 26 the deposit in certain assets of silicon valley bridge bank acquired fro

>> the federal reserve did not. >> if you had stress test. let me put it this way, if you had stress test silicon valley bank in 2022, it wouldn't have made any difference would it? >> i don't know the answer to that question. >> well you didn't test for silicon valley bank's problem. i've read your report. your stress test, stress tested these 34's for falling gdp, a spike in unemployment and defaults in commercial real estate. isn't that correct? >> yes in a typical adverse scenario for banks >> testing falling interest rates. >>>> but that wasn't the problem. >> i completely agree. >> the problem is inflation, high interest rate and loss of value in government bonds. >> i completely agree with you. >> so you stress tested in 2022 for the wrong thing. >> the stress test is not the primary way that the federal reserve or the regulators test for interest rates. >> but you stress tested for the wrong thing. >> as i said i agree with you it would've been useful to test for higher interest rates, that's why in our alternative scenario that we pu

federal reserve meetingsilbe at 2:30 this afternoon. a couple of ways you can see it, go to our app at c-span now. watch it there. you can also watch on our website at c-span.org. we will finish off the half-hour. until 8:00 with a roundf open forum. if you want to participate you canalk other aspects of news playing out. democrats, (202) 748-8000. republicans, (202) 748-8001. independents, (202) 748-8002. how you can participate in open forum on the phone lines. if you want to text you can do that at (202) 748-8003. post on facebook and twitter as well if you want. one of the other financial views that came out yesterday it was from the treasury secretary janet yellen making comments to the american bankers association. she defended the government's decision to backstop posits when it comes to those two failed banks. you can see this whole presentation on our website at c-span.org and at c-span now our app. this is a portion from secretary janet yellen yesterday. [video clip] >> let me be clear, the government's recent actions have dem

gut: she is with the federal reserve bank. voting members sometimes vote on policy but they are all very actively involved in policy and setting interest rates and emergency measures and things of this nure. president khkari, to his credit, very willingo sit down with me to awer questns to sit for an hour, hour and a half interviews to answer questions that i think the public has about what the fed has been doing. host: would you say he agrees with chair powell'secision about interest rates and also pulling back on intere rates -- pulling back the balance sheet? guest: for a long time he was basicay saying he was all in favor of easy money policies. in order to try to stimulate economic roads. e to basically keep inflation under control and two to y to create employment in this country. . kashkari has always been in favor of trying to get full employment when inflatio started to creep up, hthought itas transitory. to say it was basically temporary. supply chain problems by the pandem and other problems they hoped would just go

must transfer that amount so long as it does not exceed 12% of the federal reserve's total operating expenses for the first five years there was a relaxation there with respect to that 12% cap that allowed 200 million annually to be spent beyond that number so long as it was report ed, was sent to the president and congressional appropriators. chair powell, has the fed ever rejected a cfpb budget request >> i do not believe so >> could you tell us what policies and procedures are in place to be sure there's no waste, fraud, abuse, or these limits are not otherwise exceeded >> we have no role in engaging with that. it's really the -- we share a common inspector general who does work on those issues. we don't in any way -- we don't have any governance of any kind over it. we're just a source to them. >> thank you i appreciate that insight. in closing, chair powell, yesterday senator warren asked you what you would say to the 2 million people who may lose their jobs if the fed keeps raising interest rates frankly, senator warren should be asking herself the same question when she voted

she's outside the federal reserve in washington, d. c. this was the decision hydra federals of was widely expected to take was met. that's right. thus these are expectations that came after the turmoil we saw catch fire in the banking sector in the u. s. in just the last 2 weeks. originally, it had and predicted that today's rate hike would be closer to half a percentage point. so seen a quarter percentage point is what the expectations had tampered down to be. in light of the recent developments, of course, this is all due to the 2 bank failures that we saw starting on march 10th with silicon valley bank in california. when it was taken over by the federal regulators after failing. why did it fail? it could not keep up with the withdrawals from it's from its depositors because its assets had so sharply decline in value, in part due to the continuous rate raising of interest rates that we've seen out of this central bank in the last year. of course, the purpose of these interest rate hikes is to combat this inflation that's remains high th

with the support of the treasury, the federal reserve board created the bank term funding program to ensure that banks that hold safe and liquid assets can if needed, borrow reserves against those assets at par. this program, along with our long standing discount window, is effectively meeting the unusual funding needs that some banks have faced and makes clear that ample liquidity in the system is available. but heidi j castro has more from outside the federal reserve in washington, dc. the decision to raise the interest rate for the federal target fund by a quarter percentage point is a result of 2 competing forces. on one hand, the federal reserve was under pressure to increase the interest rate higher in order to bring down the inflation that americans have been experiencing now for more than a year. however, there was that other pressure which was a result of the banking crisis that appear to develop over night 2 weeks ago. really, there had been tensions bubbling under the surface for a long time. but essentially what happened was 2 medium sized banks. silicon valley bank and si

there has never been a latino federal reserve president.and further, only about 5% of the federal reserve's overall workforce identify as hispanic or latino. as we do over the past year so there have been several presidential vacancies at the federal reserve banks on there is still been consistent failure to appoint a latino candidate. chair powell are you aware of this training and do you agree it's a problem that diversity and inclusion numbers are in federal reserve board are not reflective of the latino population? >> guess is something we have been focusing on. >> and can we get a commitment from you you will work on the workforce issues internally? >> yes. >> thank you so much. i would like to now follow up a little bit on some of the questions from representative at norman because i do have a concern about housing cost particular how it relates to equity and the negative impact on minority communities. i think you said your paper activity in the housing sector continues to weaken largely reflecting higher mortgage rates. the rates ar

maria: well, critics are sounding off on the san francisco federal reserve.d exchange commission and the treasury, demanding answers over how mismanagement went unnoticed at silicon valley bank and led to the second largest bank collapse in u.s. history. democrats, led by elizabeth warren, are now pushing a bill that would restore more regulation of mid-sized banks cut under president trump. joining me right now is former fdic vice president and former kansas city federal reserve president thomas hoenig. thomas, it's great to see you. thanks very much for joining us this weekend. >> good to be with you. maria: so what about that many terms of the management -- many terms of the management at silicon valley bank? your thoughts on what went wrong, and how was the missed from the san francisco federal reserve bank, for example? >> the bank under these circumstances was assumed to be well capitalized. the risk-weighted capital, i think, was around 16% rather than looking at how much capital they had. and the fact that their balance sheet was so into government se

i have in front of me from the federal reserve in particular looking at the loans the federal reserve has made to the depository institutions. there's been a significant shift and in particular as it relates to other credit extensions. other credit extensions noted that they are taking collateral from the fdic. that account, march 9, zero dollars. march 16, 1 week later, $57.6 billion. march 203rd, 1 week after that, $178.6 billion. the federal reserve is taking collateral from the fdic and loaning the money what is the federal reserve engaged in that? >> it's lending through the discount window to the bridge institutions that were established. they are lending to banks. there is a provision in the statute that clearly contemplates that. >> so when i read footnote seven that wouldn't have fallen in the line of either primary credit or secondary credit? >> for the purposes of enhancing transparency to the public, that line was broken out so that everybody could see exactly what it was. >> that is helpful then if i can shift to you as we look at this dramatic increase, is there a reason

that could somehow a point that the federal reserve is super concern. so that's what they don't want and an increase of more than $25.00 point. so probably would also not be too smart or was all of the after the trouble that we're having in the financial system at the moment. so important decisions ahead next week. thank you so much. and scott, now, swimmers have been faced with a tricky choice during the energy crisis, toughen up and embraced the cold or pay more for your work out in a heated pool, but not for the swimmers, an ex, with leisure center in the u. k, they're doing lots in the heated pool and won't see any price hikes. that's because excess heat from a nearby data center is raising the water temperature. or most data center centers spend money to cool their service. these ones are immersed in oil. the oil gets warm and it's piped over to heat the water. the energy transfer has already expired . others 20 pools are currently adopting with technology and that's our show for more check out d, w dot com slash business, and the dw news news chan

to scs the federal reserve's semi annual policy reportndhe state of the u.s. economy. you can tcthe hearing starting at 10:00 a.m. eastern on our free c-span now video at our online at c-span.org. ♪ >> c-span is your unfiltered view of government. we are funded by these television companies and more, including sparklight. >> the greatest town on earth is the place you call home. at parklet, it is our home too. and right now we are all facing our greatest challenge. that is why spark light is working around the clock to keep you connected. we are doing our part, so it is easier for you to do yours. >> sparklight supports c-span as a public servi along with his other television providers, giving you a front-row seat to democracy. >> on the senate floor, majority leader chuck schumer criticized fox news host tucker carlson for airing previously unseen video footage of the january 6 attack on the u.s. capitol. he also expressed disappointment in house speaker kevin mccarthy forgiven him access to the footage. sen. schumer: mr. president. last night millions of ame

that is going to influence the federal reserve.our question about how long can we stay on this elongated runway? we are talking about landings, soft landing, hard landing, may be no landing. i think we have more runway here because the labor market has been so strong. once we start to see weakness, eventually, we should. one way or the other, the federal reserve is going to rein in demand and inflation. maybe there is a lateral part of 2023 and two 2024 story we are looking at. kriti: right now, the market is exciting rates to tap out at 5.5%. amber: do you think the risk is to the upside or downside given the information you have? kathy: i think it is to the upside in our base case view. the fed does raise the target to 5.5%. i think risks are on the upside. it doesn't necessarily mean they will go there. they could decide to get to that level as -- at 5.5% and hold it there longer. they have options. i think it is going to come down to the february data and particularly march 10, employment, march 14, inflation, it is going to de

so all those federal reserve bankers were not really allowed to talk to the media for instance. so they could not really comment em on what's going on in the banking system here in the united states. so that makes service a meeting next week, and especially the press conference or on wednesday, especially if the federal reserve would not increase interest rate. some at all that could somehow a point that the federal reserve is super concern, so that's what they don't want and an increase of more than $25.00 point. so probably would also not be too smart or was all of the after the trouble that we're having in the financial system at the moment. so important decisions ahead next week. thank you so much against kata. now swimmers have been faced with a tricky choice during the energy crisis toughen up and embrace the called, our pay more for your work out in a heated pool, but not for the swimmer as an excess leisure center in the u. k. they're doing laps and heated for and won't be any price hikes. and because excess heat from a nearby data center is raising the water temperature

ahead of the federal reserve meeting. thank you. ahead, we speak to ellen zentner at morgan stanley and andreas jobst of elias -- of allianz on whether the fed will hike or pause next. this is not a conversation you want to miss. this is bloomberg. >> this is bloomberg markets. i am kriti gupta. we were just list. we are about 40 minutes away from the fomc decision. joining us now is ellen zentner chief u.s. economist at morgan stanley and andreas jobst head of macroeconomics at allianz. where they differ is the forecast in cuts. andreas: critically important is the fed is currently very much driven by data. setting policy rates and guiding forward. data that is coming in is the best coincidental, or, also, when you look at the employment data, it comes with lag. so, we believe that there is a recession in the making. we see indications not only in terms of monetary, but also, the labor market is showing signs of significant weakness. when it comes to the starting of the pivot, q3, q4, a contraction of about one percentage point, th

with the support of the treasury, the federal reserve board created the bank term funding program to ensure that banks that hold safe and liquid assets can if needed, borrow reserves against those assets at par. this program, along with our long standing discount window, is effectively meeting the unusual funding needs that some banks have faced and makes clear that ample liquidity in the system is available. and how does your castro has more from outside the federal reserve in washington dc? the decision to raise the interest rate for the federal target fund by a quarter percentage point is a result of 2 competing forces. on one hand, the federal reserve was under pressure to increase the interest rate higher in order to bring down the inflation that americans have been experiencing now for more than a year. however, there was that other pressure which was a result of the banking crisis that appear to develop over night 2 weeks ago. really, there had been tensions bubbling under the surface for a long time. but essentially what happened was 2 medium sized banks. silicon valley bank a

well, the federal reserve is to blame. they created the situation with her about 12 years of money burning, and during that period a lot of the financial instruments. so the balance sheets of banks are very low interest rate instruments. and now the federal reserve, as a rapper, the raise interest rates, so that it depreciates the values on the banks balance sheets, but it doesn't, the preciate, their liabilities. so the feds policy of raising interest rates forces banks in the bankruptcy. this was the reason the silicon valley bank failed. it was simply forced into bankruptcy by the federal reserve raising interest rates. now other banks will be vulnerable to this also than the next rooms at vale, or be those who have a large amount of low interest rate, financial instruments on their balance sheets that we see already. i leased their reports, you never know any more points. you can believe, but we see reports that already a trillion dollars. i've been pulled out of the smaller banks. that this doesn't affect the very lar

signaled panic over the past eight days large banks when everything billion dollars from the federal reserve'scount to shore up their reserves the week before the same banks brought $4.6 billion. this indicates concern, what are your concerns? >> my concern comes from the deposit basement look i've got lots of questions asking me for my deposit safe? and i answer yes they are. and then they say what joy lose if i move them to the biggest banks because after all the biggest banks are too large to fail. so what we are seeing is regional banks losing deposits to the big banks. those regional banks need cash so they go to the fed we know that we talked about and that's why we are seeing an explosion. but the fundamental problem is we destabilized the deposit basin even though deposits are safe i want to stress the deposits are safe. people think they should be extra careful and take them to the biggest banks. >> so declares bankruptcy in the u.s. promises people with money at the bank will get to keep their deposit funds even in the bank they chose mismanagement itself and failed. this is how he p

it doesn't mean we're not going to make mistakes or that we're perfect but across the federal reservet bank supervisors have been focused on these since the interest rates began sflast year. >> senator warren said she doesn't have confidence in mary daly, the san francisco fed president. do you? >> i do. i know mary daly exceptionally well and worked with her for the last several years. she's an outstanding public servant committed to helpin all of us fulfill our mission. we have to look at the findings vice chair barr comes out, take those findings seriously and make changes on those findings. i know mary daly and my colleagues at the federal reserve are doing their best. >> you have experience in banking crises from your work back in -- with t.a.r.p., the rescue program in 2008. i wonder, what you think now, do you think there needs to be more regulation? should deposit insurance on accounts above $250,000 be raised? and should those rollbacks from 2018 be reinstated in terms of regulation of mid-sized banks? >> well, we have fundamental issues, regulatory issues, facing our banking

so we've seen coming out of the federal reserve, this being the 9th consecutive one. so in order to calm down that crisis, we heard jerome powell, the federal chair, describing the different measures that have been taken. today's, today's action is an additional measure, not raising interest rates, white as high as had been previously expected. but at the same time, they didn't have the interest at no growth. they did raise it by the point to 5 percentage points because of that need to combat inflation. we also saw projections for g, d, v gross in the us to be just point 4 percent growth this year, which is well below normal. but still in keeping with what other economies across the world are seeing in, during this pandemic recovery and the fed signaling there will be at least one more interest rate hike this year before next year. cuts to those interest rates are ex, are expected. and heidi, there are of course concerns to given how volatile the banking sector is, as you suggested there, one of the critics of this rate hike thing that's right. there had been many peop

signaled panic over the past eight days large banks when everything billion dollars from the federal reserve's shore up their reserves the week before the same banks brought $4.6 billion. this indicates concern, what are your concerns? >> my concern comes from the deposit basement look i've got lots of questions asking me for my deposit safe? and i answer yes they are. and then they say what joy lose if i move them to the biggest banks because after all the biggest banks are too large to fail. so what we are seeing is regional banks losing deposits to the big banks. those regional banks need cash so they go to the fed we know that we talked about and that's why we are seeing an explosion. but the fundamental problem is we destabilized the deposit basin even though deposits are safe i want to stress the deposits are safe. people think they should be extra careful and take them to the biggest banks. >> so declares bankruptcy in the u.s. promises people with money at the bank will get to keep their deposit funds even in the bank they chose mismanagement itself and failed. this is how he put it th

i do not think we should leave it to federal reserve system. >> mike: energy. this week biden approved a drilling projects, one of the biggest inner years. in 2008, you pushed to not allow new oil well drilling anywhere, do you support the decision to green-light willow? >> sen. van hollen: in this case, my understanding of what biden administration said, they had legal and ontractual obligation to go forward with conoco phillips and i'm not second-guessing their lawyer's judgement. we need to focus on deployment of clean energy and that is why we passed a major initiative to do exactly that as part of the inflation reduction act. look, as of today, we are producing record amounts of gas in the united states. we're on track this year to produce record amounts of oil. we have a climate crisis and i do believe that we need to be doing much more as we're beginning to do, in deploying home-grown clean energy, whether solar, wind, other courses of clean energy to help on the climate front and produce good paying jobs here in the united states. >> mike: what do you s

edward lawrence live at federal reserve. edward. >> reporter: so the federal reserve is doing 25 basis points now, raising it. statement it is interesting the federal reserve removed sentences said inflation eased somewhat and replaced it with inflation remains elevated. the fed added a paragraph about the u.s. banking system saying it is sound and resilient. adding bank failures will likely result in tighter credit conditions for households and businesses and weigh on economic activity. the fed said extend of those effects are uncertain still on the economy. the fed sees one more rate hike this year in the dot plot, keeping federal funds projections unchanged at 5.1%. the dot plot showing three rate cuts next year. five rate cuts in 2025. the fed sees inflation ending this year at 3.3%. we're double that right now. the fed sees inflation falling to 2 1/2% next year, close to the 2% target at end of 2025. the fed sees core pce inflation more elevated than regular overall inflation ending this year at 3.6%. so the fed believe

liz: i want to bring in bob heller, former federal reserve governor. bob, couple until i guess before the fall -- up until i guess before the fall of svb, the federal reserve was on door rately opposed to hiking its interest rate trajectory. will it be forced to pause? >> i think when the house is on fire, it's appropriate to calm things down, not to increase interest rates at this very moment. but the long term inflation fight is still on. so after a short pause to calm the waves, then the federal reserve has to combat inflation which is still running at a very high rate, three times at what the federal reserve wants it to run. i would like to be down to zero. liz: well, hold on. really? down to zero? you think that we are in that situation that is such an emergency now that we need to go there? >> not right now, like i said. at the moment keep it calm, do not change interest rates at the moment. but the long-term flight -- fight against inflation has to continue. and congress has mandated that the federal reserve to have price stability. in my mind,

bank spirit there is a lot of uncertainty with the federal reserve's next move. we will raise interest rates to bring down inflation or ease up on the fight to calm the banking sector. >> downplayed the federal reserve through all of this. we started out the sa santa clas by bringing zero interest rates which pushed people out of saved investments into venture capital. they became the arsenate dome arsenate during covid m no one would loan it to us the $5 trilf thin air and that caused inflation. but don't worry, they came in as the firefighters to put the fire out by dousing it with high interest rates. now, they are like the triage doctor to stabilize the patients, which are the banks. >> ashley: alexandria hoff with more from washington, alex. >> good morning, the federal reserve is in a tricky spot with rising consumer prices being revealed today. it has led to a rate hike but giving the turmoil the interest rates have caused the fight against inflation may have to be placed on hold. it was an attempt by silicon valley to lower interest rate risk which led to

in response, the federal reserve has raised the federal reserve fund rate more than four percentage pointsbeing far from transient, inflation has remained persistent, high and well above the feds a long run goal of remaining under 2%. in the coming year, what factories and indicators are you paying attention to as you and the federal open market committee decide on whether to increase rates? >> it's a couple of things so that. first, we're looking at inflation in three sectors the dimension. the good sector, the housing sector and the broader service sector. we need the inflation that's already underway in the good sector to continue. it's really important in the housing sector. we just needed the time to pass with a report of inflation comes down. it's effectively in the pipeline as long as new leases are being signed a relatively small increases. we'll be watching very carefully that the larger service sector which to de-6% of the consumer spending and more than that of what's currently inflation. that's one thing we'll be watching that very carefully. we raise rates very quickly last ye

well, the team at the federal reserve _ later? well, the team at the federal reserve has - later?eam at the federal reserve has a - later? well, the team at the j federal reserve has a pretty significant balancing act to play, first they do need to get inflation under control, it still hasn't really retracted as much as anyone wanted and the original plan for the fed was to do what they call a soft landing, which means to slowly raise interest rates and hopefully slowly call the economy down, the problem is that with the recent pressures on the banking system most of them caused by these interest rate hike, it's the highest, shortest rays of interest rates in american history, we now are in american history, we now are in a situation where there is tremendous —— to ms bridger on the balance sheet of banks and those two things are fundamentally at odds with each other. 50 fundamentally at odds with each other. ., fundamentally at odds with each other, ., ., fundamentally at odds with each other. ., ., , ., 4, other. so what do you think he will do? 0.25 _ other. so what do you thin

host: we sought sharp comments about the federal reserve leader. as for his general sentiment toward jerome powell, how would you describe that? guest: that's not a surprise but generally, powell received bipartisan support when he got promoted to another term as chairman of the fed. most members of congress are happy to let this play out and there might be some this is him here and there that they are raising rates to weekly. on the democratic side, you also have the senate banking chair that consistently undermines jay powell. host: the weaponization committee in the house side is looking at the big tech issue. at a hearing this week, we saw the hearing on tiktok. what do the legislators want as far as new regulations? guest: i'm not quite sure there is a prime ask in terms of legislation. that committee is in investigative committee looking into what happened with big tech and is part of a wider push among conservatives. they want to look at content moderation. the right alleges big tech companies, facebook, twitter, ogle, amazon, microsoft are

in essence, the banks put a massive amount of money in the federal reserve so the federal reserve didn't have to put money into lending the banks. all of the loans that supposedly were made by the federal reserve to the banks whether they were fdic or the new facility they created, all of that money came from the banks. you have not $30 billion put up, you're $470 billion, which is have a trillion dollars. i think the face of this disaster is ongoing has been solved, and expecting the banks to diet when after the other is over. the thing we have to look at going forward is i think you are seeing a bunch of things. number one, bank earnings will be stressed so they will not be good investments. number two, the gentleman who runs, if you will, the supervision at the federal reserve of the banking system will come down with a whole bunch of regulations, which he doesn't have to go through congress to get. he will say, we want the economy straightened out. you cannot change it based upon what bucket you want to put into it. he is going to say it, you took so much money out of the banking sys

let's talk about how the federal reserve will react. now to our north america business correspondent michelle fleury who's in new york. here in europe, some doubted that the european central bank would raise its interest rate last week, but it did. any indication about whether or how these developments looking backwards as we said, the european central bank didn't flinch. they carried on with their planned and they demonstrated that they could still fight inflation and use other tools to try and address what we see in the banking system. looking at the federal reserve this week, there is increased pressure for it to do a bit less. if you raise interest rates until something breaks, giving the stress banking sector, i think that is going to be weighing heavily on the federal reserve. perhaps if we'd been speaking two weeks ago, we might have been saying that we will see a 50 basis point increase at its meeting on wednesday, now the expectation is maybe it will be a quarter percentage point hike or may be nothing at all, given what is goi

the bank of japan is like the federal reserve in japan.ind a lot of banks that could fail there. if he's right, it could be a bigger mess. is he right on that? is it really so bad for u.s. stocks? we'll get the read from bob dahl, one of the best market experts i know over these many decades. a different take than mr. kiyosaki's after this. luxury exemplified. innovation electrified. with apple music seamlessly integrated. the all-new, all-electric eqs suv from mercedes-benz. see your dealer for exceptional offers on mercedes-benz electric vehicles. ♪ ♪ ♪ get directv with a two year price guarantee. ♪ i like to move it, move it ♪ ♪ you like to... move it ♪ we're reinventing our network. ♪ ♪ ♪ fast. reliable. perfectly orchestrated. the united states postal service. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if

federal reserve announces hiking interest rates by 25 basis points to 5%. the fed says it's aimed at raining and inflation >> strengthening public confidence in the banking system. foreign reserves against assets. this program it faces and makes clear ample liquidity in the system are available. >> the decision to raise the interest rate is the result of two competing forces. however, there was the other pressure that was a result of the banking crisis that appeared to develop overnight two weeks ago. there had been tensions bubbling under the surface for a long time, but what happened was two medium-sized banks ran out of money to return to depositors. assets dropped in value and bounds were no longer as valuable after the many interest rate hikes. seeing this type of one quarter of a percentage point is finding a balance between those forces. >> janet yellen said she would work with the senate to ensure those responsible are held accountable. she warned the failure of a small bank could trigger bank runs. she said the top priority was stabilizing the banki

think that those i speculation that the federal reserve will skip an interest rate hike next week in order to stabilize the banking sex that was, will take on that. okay, well, so they can do whatever they want, but inflations 20 percent and they can lie and tell people it's 10 percent, but this is highly inflationary. what they're doing with this new program to add liquidity to the treasury bonds, it places it places the federal reserve in double jeopardy, because of course, they don't look at their balance sheet and they need to raise interest rates to contain inflation. they claim that inflation is a 2 percent target and it's, it's well over probably 30 percent food inflation is probably close to 15 percent, and other inflation is closer to 20 percent. they need to control inflation. they've lost control of the markets, and this will cascade and spiral into something that they can't control. and i'm afraid that they have know the back themselves into the corner. this is their own doing by printing money for far too long and having negative interest rates. thank you so much for joi