The treasury secretary urges Congress to protect nation’s “full faith and credit” by raising the government’s borrowing authority.
The central bank also signaled that it’s likely nearing the end of its aggressive series of rate hikes.
Critics say ESG investments allocate money based on political agendas rather than on earning the best returns for savers.
A group of Wall Street banks is planning a rescue package of around $30 billion for First Republic Bank, sources told The Associated Press on Thursday.
Meta and other tech companies have been hiring aggressively in recent years but have recently begun to let some of those workers go.
The bank’s failure arrived with incredible speed, with some industry analysts on Friday suggesting it was still likely a wise investment.
Employers added a higher-than-expected 311,000 jobs, while unemployment rose from 3.4% to 3.6%.
The increase is smaller than previous rate hikes but marks the Fed’s eighth hike since March in its fight to tame inflation.
Though smaller than its previous three-quarter-point hikes, the move will further heighten the costs of many consumer and business loans.
The Federal Trade Commission said Microsoft’s planned takeover could suppress competitors.
