Chronicles

Powell says Russia-Ukraine War could bring higher inflation

Federal Reserve Chair Jerome Powell said already decades-high inflation readings could increase even more following Russia’s invasion of Ukraine. During his March 3 testimony before the Senate Banking Committee, Powell noted that Russia’s key role in key global commodities such as oil will likely send gas prices higher, though he didn’t know for how long. … Read more

FDIC banks made nearly $64 billion in 4Q 2021

Banks and savings institutions insured by the Federal Deposit Insurance Corporation made $63.9 billion in net income during the fourth quarter of 2021, according to the latest Quarterly Banking Profile. The $4.4 billion, 7.4 percent year-over-year increase was driven by ongoing economic growth and improved credit conditions, according to the FDIC. [Continue]