Retail sales dipped 0.4% in February after a surprise start-of-the-year surge that appeared at odds with the Federal Reserve's goal of cooling down the economy.
After the collapse of Silicon Valley Bank, some customers have been moving their money from smaller, regional banks to larger lenders. And that could reshape the banking landscape.
Silicon Valley Bank was not a household name. For four decades, SVB successfully competed with big name financial institutions only to come crumbling down in a matter of days.
The Fed was watching closely Tuesday when the new report card on inflation was released. The Fed's efforts to combat inflation have been complicated by recent stresses in the banking industry.
Industry groups are suing the Monterey Bay Aquarium for defamation, arguing that their prized catch shouldn't be on a "red list" published by Seafood Watch, a conservation program it operates.
Justice Department officials have launched an investigation into the bank amid growing questions about who shares responsibility for the largest bank failure since the 2008 collapse.
Democratic Sen. Elizabeth Warren of Massachusetts criticizes a bill that was passed in 2018. Senate Republicans say the recent measures to address the collapse amount to a "back door tax increase."
Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.
A major bank in Silicon Valley experienced a bank run and failed. Fearing a cascading catastrophe in tech and banking, the government stepped in to prevent contagion.
The Danish drugmaker's move follows a similar announcement by rival Eli Lilly earlier this month. More than 8 million Americans use insulin, according to the American Diabetes Association.
Some say the decision to guarantee deposits beyond the typical $250,000 limit was necessary to keep the financial system stable. Others argue this sets a bad precedent if other banks run into trouble.
Bank runs, by their very nature, happen fast. But in an age of instant communication, social media and money transfers at the touch of a button, they can now happen in the blink of an eye.