Fed says banks could withstand 10% unemployment, 55% stock price drop in annual stress test

Fed says banks could withstand 10% unemployment, 55% stock price drop in annual stress test

The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did a year ago, but said the 33 financial institutions it reviewed passed its annual stress test of capital reserves. The Fed estimated $612 billion in potential losses for banks in its most severe economic scenario, and … Read more

More Companies Start to Rescind Job Offers

More Companies Start to Rescind Job Offers

Businesses in several different industries are rescinding job offers they made just a few months ago, in a sign the tightest labor market in decades may be showing cracks. Companies including Twitter Inc. real-estate brokerage Redfin Corp. and cryptocurrency exchange Coinbase Global Inc. have rescinded offers in recent weeks. Employers in other pockets of the … Read more