Search
Fed Raises Rates by 75 Basis Points
15.6.2022
On Wednesday, the US Federal Reserve (Fed) raised rates by 75 basis points, in line with most analysts’ forecasts. (This is a developing story and is being constantly updated.)
“[…] the Committee decided to raise the target range for the federal funds rate to 1‑1/2 to 1-3/4 percent...
Bitcoin, Ethereum & Crypto Test New Lows as Market Braces for Bigger Rate Hike on Wednesday
14.6.2022
The cryptoasset market crash continued on Tuesday, with bitcoin (BTC) falling to as low as USD 20,800 before trimming some of its losses. The significant selloff came as the market braces for the possibility of an unusual 75 basis point rate hike from the US Federal Reserve (Fed) this...
El Salvador’s Finance Minister ‘Laughs off’ Claims of USD 40M Bitcoin ‘Losses’
14.6.2022
El Salvador’s Minister of Finance Alejandro Zelaya says he is “laughing off” international media reports that claim the nation’s bitcoin (BTC) adoption plans could scupper the economy and that they have left a USD 40 million hole in national finances....
Read More: El Salvador’s Finance Minister...
JPMorgan Economist Expects the Fed to Hike Benchmark Rate by 75 bps as Global Markets Bleed
14.6.2022
The U.S. Federal Reserve is expected to raise the federal funds rate during its next meeting on Wednesday and JPMorgan economist Michael Feroli believes that rising inflation will push the Fed to increase the rate by 75 basis points (bps). Last week, CME Group data indicated the market priced in...
Bitcoin, Ethereum & Crypto Dive as Celsius Adds Fuel to the Fed Fire This Week
13.6.2022
The bitcoin (BTC) and crypto market came under heavy selling pressure on Monday, fueled by fears in nearly all global risk markets related to high inflation and what the US Federal Reserve (Fed) might do to tame it. At the same time, the drama surrounding crypto lending platform Celsius (CEL)...
Economist Peter Schiff Explains Why He Expects Bitcoin to Crash as Recession Deepens — Warns ‘Don’t Buy This Dip’
13.6.2022
Economist and gold bug Peter Schiff has made some dire predictions about cryptocurrency, particularly bitcoin and ether. He explained that “The need to sell bitcoin to pay the bills will only get worse as the recession deepens,” adding that bitcoin is poised to crash to $20K while...
This Is Why Fed Might Attack Inflation More Aggressively
12.6.2022
Veronika Dolar, Assistant Professor of Economics, SUNY Old Westbury._______
Inflation surged at the fastest pace in over 40 years in May 2022, pushing the Federal Reserve toward a more aggressive pace of interest rate increases to slow it down. While there’s concern it could cause unemployment...
US Inflation Spiked 8.6%, Highest in 40-Years — Economist Says We’re Not ‘Seeing Any Signs That We’re in the Clear’
11.6.2022
After April’s consumer price index (CPI) report was published, a number of American economists and bureaucrats said that inflation had peaked and it was possible that inflation would subside. However, statistics from the U.S. Labor Department indicate the CPI increased 8.6% from a year...
Forget the Market Slump – Inflation Will Define Bitcoin This Year and Beyond
11.6.2022
Chen Li is the CEO and Founder of digital asset venture capital firm Youbi Capital._______
Inflation: the word on everyone’s lips in 2022. With rising prices squeezing budgets more than we’ve seen in the last four decades, investors and consumers are desperate for ways to protect their...
US Inflation for May Hits 8.6%, Above Analysts’ Expectations
10.6.2022
US inflation hit 8.6% in May, up from 8.3% in April and above analysts’ expectations.
"While almost all major components increased over the month, the largest contributors were the indexes for shelter, airline fares, used cars and trucks, and new vehicles,” the announcement from the US Bureau...
Hawkish ECB Intentions, Tether on Tezos, Osmosis Promises to Cover Losses + More News
9.6.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
__________...
Read More: Hawkish ECB Intentions, Tether on Tezos, Osmosis Promises to Cover Losses + More News
Yellen Downplays Stimulus Contributing to Inflation, Republicans Grill US Treasury Secretary’s Decisions
9.6.2022
U.S. Treasury secretary Janet Yellen doesn’t think inflationary pressures stem from the stimulus policies enacted after the Covid-19 outbreak. While speaking to lawmakers on Wednesday, during the House Ways and Means Committee, Republicans criticized Yellen for not knowing about the risks...
American Economists Are Baffled by an ‘Unusual Situation’ as Russia’s Ruble Is the World’s Best Performing Fiat Currency
9.6.2022
Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat...
World Bank Warns of Global Recession, Stagflation — ‘This Is the Sharpest Slowdown in 80 Years’
9.6.2022
The World Bank has warned of a possible global recession. “For many countries, recession will be hard to avoid,” said World Bank President David Malpass. “This is the sharpest slowdown in 80 years.” World Bank on Global Recession, Stagflation The World Bank warned about...
Nobel Laureate Paul Krugman Compares Crypto to Housing Bubble and Subprime Crisis
8.6.2022
Nobel Prize-winning economist Paul Krugman has compared the current state of cryptocurrency to the housing bubble and the subprime mortgage crisis. Noting that crypto lacks any real value, he said: “it is a house built not on sand, but on nothing at all.” Paul Krugman on Crypto...
Kim Dotcom Says ‘US Is Beyond Bankrupt,’ Digital Entrepreneur Predicts a ‘Controlled Demolition of Global Markets’
6.6.2022
On June 5, 2022, the entrepreneur and activist known as Kim Dotcom published a post on Twitter and said it “may be the most important thread” he ever makes concerning a major global collapse. In the thread, Dotcom specifically highlights the American economy and he claims...
Dollar Dominance and the Rise of Nontraditional Reserve Currencies
5.6.2022
Serkan Arslanalp is Deputy Division Chief in the Balance of Payments Division of the International Monetary Fund (IMF)’s Statistics Department; Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California; Chima Simpson-Bell is...
Goldman Sachs President Warns of ‘Unprecedented’ Economic Shocks and Tougher Times Ahead
5.6.2022
Global investment bank Goldman Sachs’ president and chief operating officer has warned of unprecedented economic shocks and tougher times ahead. His statement echoes JPMorgan CEO Jamie Dimon’s warning that a “hurricane” is coming our way. Goldman Sachs President’s...
Czech Central Bank Plans Tenfold Increase in Gold Holdings, New Governor Says Precious Metal ‘Good for Diversification’
4.6.2022
The incoming governor of the Czech National Bank (CNB), Aleš Michl, has said he plans to increase the institution’s gold holdings almost tenfold from the current 11 tonnes to 100 tonnes. Michl also said he will ask the bank’s foreign exchange reserves management team to invest...
Tesla CEO Elon Musk Has ‘Super Bad Feeling’ About US Economy — Biden Responds
4.6.2022
Tesla and Spacex CEO Elon Musk says he has a “super bad feeling” about the U.S. economy. President Joe Biden responded with a list of major investments by large corporations and wished Musk luck on his trip to the moon. Elon Musk’s Bad Feeling About the U.S. Economy Tesla...