The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to continued labor market strength, though financial markets turmoil is casting a shadow over the economy.
Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 192,000 for the week ended March 11, the Labor Department said on Thursday. Economists polled by Reuters had forecast 205,000 claims for the latest week. Labor market tightness, marked by 1.9 job openings for every unemployed person in January, together with stubbornly high inflation argue for the Federal Reserve to continue raising interest rates next week.Silver, like other commodities including gold and oil, is a haven for traders during times of economic downturn, and particularly inflation, where the strength of the U.S. dollar is weakened, and investors begin looking for material wealth.
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First Republic Bank stock tumbles on credit downgrade and deposit worriesFirst Republic Bank's credit rating was downgraded on Wednesday by both Fitch Ratings and S&P Global Ratings on concerns that depositors could pull their cash despite the federal intervention.
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Credit Suisse flags 'material weaknesses' in reporting, outflows not reversedCredit Suisse released its delayed annual report in which it identified 'material weaknesses' in its internal controls over financial reporting and said it had not yet stemmed customer outflows Holy shit here we go Dead man walking.... A broke bank
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