Free Republic

Earlier today, when Jerome Powell openly lied to the American People during the FOMC press conference stating without a hint of irony that the US banking system is "sound and resilient"...Federal Reserve Chair Jerome Powell says that "the US banking system is sound and resilient." What do you think? 🤔pic.twitter.com/qDktlpOln4 — Human Events (@HumanEvents) May 3, 2023...we balked: how could this former lawyer lie so brazenly to the American people, the narrator wondered, when in just the past few weeks we had seen over half a trillion in bank failures, making the current bank failure episode even worse than the...

Regional bank stocks fell sharply Tuesday as the fallout from the third major bank failure this year continued to put pressure on the sector. Shares of PacWest fell more than 39% on Tuesday and was on track for its fourth-straight negative session. The stock was halted for volatility multiple times. The California-based bank was not the only regional lender under pressure. Shares of Western Alliance dropped 20%. The SPDR S&P Regional Banking ETF (KRE) sank 7.6%. The steep declines deepened losses in the sector from Monday. Over the weekend, regulators seized troubled regional bank First Republic and sold it to...