36 / 38 Relevant items tagged with #Economics
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US Dollar to Keep Losing Its Appeal as Safe-Haven Currency of Last Resort, Says Strategist
Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan
[Feb 7, 2023 7:30 PM] Bank of America is preparing for a possible U.S. debt default, says CEO Brian Moynihan. He is not a fan of eliminating the debt ceiling altogether as some lawmakers have proposed. Meanwhile, Treasury Secretary Janet Yellen says “every…
Central Bank of Argentina to Issue New 2,000 Peso Bill as Inflation Keeps Rising
The Market Has Decided a Recession Is Coming, Says Mad Money’s Jim Cramer
Report: Egyptian Lawmakers Hail Parliament’s Endorsement of Pact to Join BRICS Bank
[Feb 3, 2023 3:30 AM] Egyptian lawmakers recently hailed the parliament’s endorsement of a pact that allows the country to join the New Development Bank, a report has said. According to the report, the lawmakers believe joining this BRICS-backed institution will…
Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell
[Feb 1, 2023 2:30 PM] The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed…
Argentine Peso Loses Almost 12% Against the Greenback During January; Inflation Projected to Rise Sharply
Market Strategist Warns of ‘Blood’ on February 1 Ahead of Fed Meeting
[Jan 29, 2023 2:30 PM] Stocks, precious metals, and cryptocurrencies rallied during the first month of the year, and market strategists are saying that markets could retract in the near future if the U.S. Federal Reserve keeps hiking rates and maintaining a broader…
Robert Kiyosaki Says ‘We Are in Global Recession’ — Warns of Soaring Bankruptcies, Unemployment, Homelessness
[Jan 28, 2023 7:30 PM] The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that we are in a global recession. Warning of soaring bankruptcies, unemployment, and homelessness, he noted that there is good news for investors looking for…
Gold to Lose Its Shine as Harry Dent Predicts Massive Crash; Bitcoin to Follow Suit With Low of $3,250
[Jan 26, 2023 8:00 AM] Gold has seen a significant increase in value in 2023, with spot prices rising from $1,823 per ounce to the current price of $1,937 per ounce. However, Harry Dent, founder of HS Dent Investment Management, believes that this trend may not continue…
Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries
[Jan 25, 2023 6:30 AM] President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border…
Jim Cramer Says Avoid Crypto, Stick With Gold for ‘Real Hedge’ Against Inflation and Economic Chaos
Casting Stones From a Glass House: Yellen’s Comments on Zambia’s Debt Restructuring Draw Criticism From Chinese Embassy
Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa’s Top 15 Currencies
[Jan 24, 2023 1:30 PM] In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa’s top 15 currencies. While one U.S. dollar bought 13.10 units of the cedi on the…
Brazil and Argentina to Start Working on Creation of Latam Common Currency
[Jan 24, 2023 5:00 AM] Brazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration…
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…
Morgan Stanley CEO Says Inflation Has Peaked and China Has Made a Major Pivot
All Eyes on the Next Fed Meeting: Market Trajectories Hinge on Decision
[Jan 21, 2023 4:30 PM] Equities, precious metals, and cryptocurrencies have been on a tear during the last three weeks of 2023, and all eyes are now focused on the next Federal Open Market Committee (FOMC) meeting, which is 11 days away. On Friday, Federal Reserve…
Switzerland Less Affected by Crypto Industry Crisis, Study Finds
[Jan 21, 2023 5:30 AM] While the global industry built around digital assets is losing funds and jobs are dropping off, Switzerland seems to be weathering the storm relatively well, one piece of research claims. In fact, more crypto companies settled in the country…
Saudi Arabia Open to Trading in Currencies Other Than US Dollar, Signaling a Shift Toward De-Dollarization
Nearly $1 Billion Poured Into Egypt’s Forex Market — Local Currency Now World’s Worst Performing Currency in 2023
Cornell Professor Warns of Disruption to US Bond Market From Potential Collapse of Major Stablecoin
[Jan 16, 2023 4:30 AM] A professor from Cornell University has warned about the potential effects a collapse of a major stablecoin could have on the U.S. bond market. Eswar Prasad said that if large stablecoins face a collapse, the number of Treasury bonds they would…
Jeff Booth Warns of Debt Deflation If Federal Reserve Keeps Hiking Interest Rates
Report: Nigeria Debt Management Office’s $48.8 Billion Debt Contravenes the Law Says Expert
[Jan 15, 2023 2:30 PM] The Nigerian Debt Management Office (DMO) contravened the law when its borrowings exceeded the set limit which is equivalent to $2.2 billion, Adetilewa Adebajo, an international financial markets expert has reportedly said. Adebajo also suggested…
Treasury Secretary Yellen Urges Swift Action to Increase Spending Limit, Avert Default on US Obligations
[Jan 14, 2023 1:30 PM] Janet Yellen, the U.S. secretary of the Treasury, sent a letter to Congress on Friday urging lawmakers to increase the spending limit. Yellen stressed that the country would reach its statutory debt limit on Jan. 19, 2023. She warned that…
JPMorgan CEO Jamie Dimon on US Economy: ‘I Shouldn’t Ever Use the Word Hurricane’
World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’
[Jan 10, 2023 11:30 PM] On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board…
Report: Nigeria to Stop Cash Withdrawals From Government Accounts
[Jan 8, 2023 5:30 PM] From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public officials that want to be exempted from this new…
Mexican CBDC Unlikely to Be Ready by 2024
[Jan 8, 2023 5:30 AM] The Mexican central bank digital currency (CBDC), the digital peso, is unlikely to be ready by 2024, as was announced back in 2021 by the Mexican government. In a statement, representatives from Banxico, the central bank of Mexico, stated the…