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US Share of World Economy Projected to Reach Historic Low

[Oct 13 2:30 AM] The U.S. share of the global economy has fallen below 15% during President Joe Biden’s term, according to Sputnik’s analysis of World Bank and International Monetary Fund (IMF) data. Once peaking at over 21% in 1999, the U.S. has seen a steady…

BRICS Nations Set for 4.4% Growth in 2024-2025, Outpacing G7 Economies

[Oct 11 6:30 AM] Russian Finance Minister Anton Siluanov has emphasized the rising influence of BRICS nations during a recent event, noting their projected economic growth of 4.4% in 2024-2025, compared to 1.7% for G7 countries. Siluanov highlighted BRICS’…

Vivek Ramaswamy Calls to End Federal Bureaucracy: ‘We Have Too Many Laws’

[Oct 2 11:30 PM] Vivek Ramaswamy has voiced strong criticism against the federal bureaucracy, emphasizing that unelected officials are behind most laws, not Congress. He called for bipartisan efforts to dismantle the regulatory state. Ramaswamy emphasized that…

UAE to Boost Global South Growth Through BRICS Membership

[Sep 5 8:30 AM] The United Arab Emirates (UAE) is committed to supporting the economic development of the Global South through its membership in the BRICS group, according to Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance. The UAE aims to foster…

China and South Africa Boost BRICS Ties: Key Outcomes from Xi’s Meeting With Ramaphosa

[Sep 4 3:30 AM] China and South Africa committed to deepening cooperation within the BRICS framework during South African President Cyril Ramaphosa’s second state visit to China, where he met with Chinese President Xi Jinping. The leaders emphasized the…

No Rate Cuts Yet: Fed Maintains Rates at Historic Highs 

[Jul 31 6:25 PM] The U.S. Federal Reserve has opted to maintain the federal funds rate target range at 5.25-5.5%, according to the latest report from the Federal Open Market Committee (FOMC). The committee noted that while inflation has eased over the past year, it…

Latvia's economic shift: Minister of Economics on crypto law and blockchain innovations

[Jul 25 5:37 AM] Latvia’s Minister of Economics Viktors Valainis shared insights on the country's vision for a tech-driven future and new crypto laws and blockchain initiatives aimed at transforming its economy.

Citi Analysts Predict 8 Weeks of Fed Rate Cuts Starting in September, Powell Seeks Evidence

[Jul 9 9:31 AM] Analysts from Citi, the American multinational investment bank and financial services corporation, predict the U.S. Federal Reserve will begin reducing rates by September, totaling a 200 basis points (bps) cut over the next eight Federal Open…

IMF Advises US to Keep Interest Rates Steady Through Late 2024

[Jul 3 5:16 PM] The International Monetary Fund (IMF) has advised the U.S. to improve its fiscal position by reducing spending and increasing revenues. The IMF emphasizes addressing rising debt through policy adjustments and recommends maintaining current interest…

Bitwise Analysis: AI and Crypto Fusion Poised to Elevate Global Economy by $20 Trillion

[Jun 12 2:23 PM] Bitwise’s Senior Crypto Research Analyst, Juan Leon, predicts a transformative impact on the global economy as artificial intelligence (AI) and cryptocurrency converge, potentially adding $20 trillion to the global Gross Domestic Product…

Australian MP says the country needs blockchain ‘more than ever’

[Jun 10 9:18 PM] Australian Parliament Member Andrew Charlton said blockchain technology could add $60 billion to the economy and reverse stagnating productivity growth.

Intel and AfDB to train millions of Africans in AI

[Jun 9 4:30 AM] The initiative aims to equip many Africans with skills in advanced technologies like artificial intelligence, robotics and data science.

Global Debt Spikes to Record $307 Trillion Driven by US, Developed Nations

[Sep 20, 2023 4:30 PM] The world’s debt has surged to a record high level in the second quarter, according to the Institute of International Finance (IIF). The increase has also helped lift the global debt-to-GDP ratio which had been declining for seven quarters but is…

Crypto Firm Riot Defends Texas Power Strategy After Headlines Claim State ‘Paid’ Miner

[Sep 10, 2023 2:00 PM] Bitcoin mining company Riot Platforms is defending its participation in Texas’ electricity market programs after recent headlines claimed the state ‘paid’ the miner over $30 million to reduce power in August. Riot Platforms Sets the Record Straightâ

US Inflation Climbs to 3.2% in July, Stoking Concerns and Dividing Market Opinions

[Aug 10, 2023 11:30 AM] The most recent data from the Bureau of Labor Statistics reveals a growingly intricate inflationary scenario for the U.S. economy. Disclosed on Thursday, the Consumer Price Index for All Urban Consumers (CPI-U) exhibited a 3.2% annual increase in…

Saudi Arabia Extends Oil Production Cuts, Further Irking US Officials 

[Aug 3, 2023 11:30 AM] Saudi Arabia announced it will continue limiting oil production through September, extending output reductions that have drawn criticism from Washington. Riyadh Holds Firm on Oil Output Limits Saudi Arabia said Thursday it will keep oil production…

End of Fed’s Tightening Cycle: Bernanke, Majority of Polled Economists See Terminal Rate Hike Ahead

[Jul 23, 2023 3:30 PM] With just a four-day window to go, the U.S. Federal Reserve appears primed to raise the federal funds rate by 25-basis-points (bps) at the forthcoming Federal Open Market Committee (FOMC) meeting scheduled for Wednesday. The market presently…

US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company Calls

[May 5, 2023 3:30 PM] Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally…

How does the economy work?

[Mar 26, 2023 7:07 AM] The economy is a system of producing and exchanging goods and services in a society.

What is fiscal policy, and why does it matter?

[Mar 25, 2023 6:07 AM] Fiscal policy shapes economies through government spending, taxation and borrowing.

Federal Reserve Hikes Rate by 25bps to Keep Inflation at Bay, Aims for 2% Inflation Rate by 2025

[Mar 22, 2023 1:05 PM] Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run. Fed…

Economist Mohamed El-Erian Predicts ‘Sticky’ Inflation Despite Federal Reserve’s Efforts to Bring it Down

[Jan 23, 2023 11:00 AM] As investors examine the next move of the Federal Reserve, analysts, economists and market participants are also closely monitoring inflation levels. In Dec. 2022, the annual inflation rate dropped to 6.5%, and many experts predict it will decrease…

Uncertainty Surrounds Federal Reserve’s Future Plans for Rate Hikes

[Jan 9, 2023 9:00 AM] The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down to the 2% target…