Treasury Secretary Janet Yellen says bank depositors can feel confident their money is safe. Yellen promised a thorough review of what went wrong at two regional banks that failed in the past week.
Though Georgia’s Teachers Retirement System (TRS) lost about $33 million when two large banks failed earlier this month, the loss is just a sliver of a fraction of the TRS’ $88 billion in total assets.
The cold weather across much of Georgia this week is worrying local growers, but many are optimistic that this year's fruit harvests will survive. Meanwhile, U.S. Sen. Jon Ossoff is pushing for the state to build its citrus sector.
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.
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.
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.
Gov. Brian Kemp has signed a $32.5 billion mid-year state budget that includes property tax relief for Georgia homeowners and security grants for every public school in the state.
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.