U.S. Financial Market Update: The Week Ahead

–BANK FAILURE HEARINGS: On Tuesday, the U.S. Senate Banking Committee will hold the first of several hearings on the failures of Silicon Valley Bank and Signature Bank. The Committee, chaired by Ohio Democrat Sherrod Brown, will hear from FDIC Chair Martin Gruenberg, Federal Reserve Vice Chair of Supervision Michael Barr, and Treasury Department Under Secretary for Domestic Finance, Nellie Liang. Market participants will be attuned to any discussion on expansion of deposit insurance and increased regulation of regional banks.

–THE FED’S PREFERRED INFLATION GAUGE: U.S. personal consumption expenditure (PCE) price index data for February will be released Friday. The core reading, which excludes food and energy, is expected to have risen 0.4% last month and 4.7% from a year ago. The year-over-year reading is down from a 40- year high of 5.4% in February 2022 but remains well above the Fed’s 2.0% target. Federal Reserve officials will likely be focused on so-called “super-core” inflation, described as core services excluding shelter

Read the full Centier Bank Financial Market Update: The Week Ahead March 27, 2023 here. 

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