The Federal Deposit Insurance Corp. is set to pay almost $23 billion to stabilize the banking sector. That money comes from an insurance fund that is refilled annually through fees paid by banks. Now the agency is considering a special assessment on the entire industry to help make up the costs, according to a Bloomberg report. It also noted that big banks (who have been the biggest beneficiaries, as depositors have flocked to safer ground) might have to pay extra.
A legal expert helps break down why Tesla shareholders are voting on Elon Musk’s historic pay deal – and why betting against Musk usually doesn’t pay off.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
