Federal Reserve faces dual test of high inflation, bank instability

The US Federal Reserve faces a tricky balancing act, arsenic it tries to navigate precocious ostentation and instability successful the banking sector. Alexander Yokum, of CFRA Research, says the illness of Silicon Valley Bank and Signature Bank could impact the Fed's adjacent involvement complaint decision, contempt a 6 percent leap successful user prices. Also successful the show: Facebook's genitor institution Meta confirms a further 10,000 occupation cuts, and a California tribunal rules that gig system workers should not beryllium considered employees.