Tag: Federal Reserve Bank of San Francisco

Inflation Stays High as Rising Prices Continue to Squeeze Americans

Michigan Star Staff
Grocery Shopping

Inflation ticked down slightly year-over-year in April but still remained high as rising prices continue to take a toll on average Americans’ finances, according to the latest Bureau of Labor Statistics (BLS) release on Tuesday.

The consumer price index (CPI), a broad measure of the prices of everyday goods, increased 3.4% on an annual basis in April and 0.3% month-over-month, compared to 3.5% in March, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained higher, rising 3.6% year-over-year in April, compared to 3.8% in February.

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Regulators Knew Silicon Valley Bank Was in Trouble Since 2021, Did Not Step In

The Center Square

A closer look at the months leading up to the collapse of Silicon Valley Bank, the second-largest bank collapse in history, shows that regulators saw the warning signs since last year but did not step in.

SVB’s collapse sent shockwaves through the markets, destabilized the economy, and raised fears of a domino effect of other banks. Seemingly backing those fears, other banks have recently collapsed as well.

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