But at the same time, to soothe financial markets, the Fed might prefer to leave rates unchanged, at least for now. The two simultaneous problems would normally push the Fed in different directions: To fight elevated inflation, it would raise its benchmark rate, perhaps substantially, for the ninth time in the past year. WASHINGTON (AP) - Still grappling with persistently high inflation, the Federal Reserve faces an entirely new - and in some ways conflicting - challenge as it meets to consider interest rates this week: How to restore calm to a nervous banking system. _įed’s tough challenge: Confront inflation and bank jitters Treasury yields also climbed ahead of a looming decision on interest rates by the Federal Reserve on Wednesday. Regulators announced a deal on Sunday where Swiss banking giant UBS would buy rival Credit Suisse. Much attention has been on banks because they may be cracking under the fastest series of interest rate hikes in decades. ![]() Financial stocks were among the many to rise. ![]() NEW YORK (AP) - Wall Street closed higher after regulators pushed together two huge banks over the weekend and made other moves to build confidence in the struggling industry. Wall Street strengthens after big bank deal, regulator moves and Europe rose, with most bank shares showing gains. Despite concerns about the banking sector, stock markets in the U.S. Over the weekend, First Republic’s credit rating was downgraded by S&P Global Ratings. The shares have dropped around 88% in the past two weeks. Trading in First Republic shares was halted numerous times due to the volatility. Shares of First Republic Bank fell another 47% Monday as investors remain uneasy about the bank’s financial condition even after a group of the nation’s largest financial institutions teamed up on a $30 billion rescue package. _įirst Republic Bank shares slide in volatile trading session But they warn that unexpected problems could arise. investment bank Lehman Brothers set off the global financial crisis. Analysts say banks are generally in better shape than in 2008, when the failure of U.S. UBS shares have dropped on fears that it has simply taken on Credit Suisse’s problems, while fears remain that other banks have misjudged the risk to their finances from rising interest rates, as Silicon Valley did. He did state that if the board decided to continue providing a venue for the Rodeo, his department would respond to calls as provided by law but would not assist in the security portion of the event.FRANKFURT, Germany (AP) - Globally connected Credit Suisse has been taken over by rival UBS at the urging of Swiss authorities to avoid a collapse that could have sent shock waves through the global economy. ![]() He made it clear to the board that he was in no way intending to sway the board in making a decision to not continue to allow the event on the fairgrounds only to point out his concerns for the community and to state his department would no longer provide security. He also stated unequivocally, that he, nor any of his department going forward would provide security services during another Easyrider event. During the sheriff’s comments, he described a situation that took place this year during the event that he felt put the lives of his deputies and possibly the community at large in a life threatening situation. ![]() At the meeting, Ross County Sheriff George Lavender and members of his command staff addressed the board and provided a video of drone footage of this year’s Rodeo. “During the November meeting of the Ross County Agricultural Society, the board discussed the issuance of an additional contract for the Easyrider Rodeo event which has been held at the Ross County Fairgrounds for over thirty years. Statement from Brad Cosenza President of Ross County Ag Society In the November 1st meeting they voted against having Easyriders event in the county citing dangerous conditions for people and the sheriff department. ROSS – Ross County agricultural society is cutting ties with Easyriders after a possible life-threatening event occurred.Ī vote this week from the Ross County Agricultural society chose to cut ties with the yearly event.Įasy Riders according to meeting minutes contacted the Fair board about a 2022 event. Easy Rider poster drawing (People) biker,tattooed,america,casual,funny
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