42 / 42 Relevant items tagged with #Economics

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Federal Reserve Hikes Rate by 50bps, FOMC Signals Rate to Rise to 5.1% Next Year

[Dec 14, 2022 3:00 PM] The U.S. central bank’s Federal Open Market Committee (FOMC) convened on Wednesday and raised the federal funds rate by 50 basis points (bps). The 0.5 percentage point rise follows the four consecutive three-quarters of a point increases…

Balaji Srinivasan Says FTX Is a Preview of State Failure, USD Bank Accounts Could Be Frozen or Inflated to Worthlessness

[Dec 11, 2022 8:00 PM] Angel investor Balaji Srinivasan says the collapse of crypto exchange FTX should be treated as “a preview of state failure.” He warned that one day U.S. dollar bank accounts “may be frozen or inflated to worthlessness,”…

Elon Musk: Recession Will Be Greatly Amplified if the Fed Raises Rates Next Week

[Dec 10, 2022 8:30 PM] Billionaire Elon Musk, the CEO of Tesla and Spacex, has warned that the recession will be “greatly amplified” if the Federal Reserve raises interest rates again next week. He added that things will “probably start looking…

Robert Kiyosaki Expects Bitcoin Investors to Get Richer When Fed Pivots, Prints Trillions of Dollars

[Dec 10, 2022 6:30 PM] The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that bitcoin investors will get richer when the Federal Reserve, the Treasury, and Wall Street pivot and trillions of dollars are printed. Robert Kiyosaki Predicts…

Remittances to Low and Middle Income Countries in 2022 Up by 5% to $626 Billion — Latest World Bank Report

[Dec 7, 2022 6:30 AM] Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged…

‘Big Short’ Investor Michael Burry Warns of Extended Multi-Year Recession in US

[Dec 1, 2022 8:30 PM] Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned about “an extended multi-year recession” in the U.S. He believes there isn’t a strategy to pull us out of “this real…

Elon Musk Warns of Severe Recession — Urges the Fed to Cut Interest Rates Immediately

[Nov 30, 2022 6:30 PM] Tesla CEO and Twitter boss Elon Musk has warned of a severe recession in the U.S. The billionaire stressed that the Federal Reserve needs to cut interest rates “immediately,” emphasizing that the Fed is “massively amplifying the…

Venezuelan Currency Plunges Almost 40% Against the US Dollar, Analysts Cite Crypto Drought as Part of the Problem

[Nov 27, 2022 3:00 PM] The Venezuelan fiat currency, the bolivar, has lost almost 40% in its exchange rate against the U.S. dollar in a month. According to reports, the seasonal payments that the government has to make, and the lack of liquidity of the government to…

New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor

[Nov 27, 2022 3:00 AM] The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial inclusion cause. Forcing Currency Hoarders…

5 tips for riding out a downbeat market this holiday season

[Nov 24, 2022 11:13 AM] The market doesn't look like it's going to spike upward anytime soon. While you wait, grow your network and position your portfolio to take advantage of a future recovery.

Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’

[Nov 22, 2022 3:00 PM] During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the…

Amazon Founder Jeff Bezos Advises What Consumers and Businesses Should Do as Recession Looms

[Nov 20, 2022 8:30 PM] Amazon founder and former chief executive Jeff Bezos has given some advice to consumers and small businesses about what they should do given that the U.S. economy is either already in a recession or is headed into one “very soon.” The…

Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission

[Nov 20, 2022 4:30 AM] According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a…

Relaunch of USAN — the Union of South American Nations — in Latam Profiles New Monetary Integration

[Nov 16, 2022 5:00 AM] A proposal for relaunching the currently defunct USAN, the Union of South American Nations, profiles a future monetary integration amongst the countries of the organization. The proposal, made by several former presidents of countries in Latam…

Binance CEO Likens FTX Fiasco to 2008 Financial Crisis — Warns of ‘Cascading Effects’

[Nov 13, 2022 11:00 PM] Binance CEO Changpeng Zhao has compared the FTX collapse to the 2008 financial crisis. Warning of “cascading effects,” he stressed: “A lot of consumer confidence is shaken, and I think basically it sets us back a few years.”…

Ark Invest CEO Warns Fed’s Actions Could Lead to 1929-Like Great Depression — Elon Musk Agrees

[Nov 13, 2022 7:00 PM] The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO and Twitter chief Elon Musk agreed. The Fed…

Bitcoin Is The Solution To The World’s Trade Problems

[Nov 10, 2022 9:50 PM] Global trade needs to be built on an incorruptible standard that has no political or nationalistic affiliation.This is an opinion editorial by Heritage Falodun, a Bitcoin analyst and computer scientist based in Nigeria. I believe humanity deserves…

World’s Worst Performing Currency, the Cedi, Reverses Gains — Economist Steve Hanke Says Ghana Inflation Now Over 140%

[Nov 10, 2022 12:30 AM] Just days after registering marginal gains against the U.S. dollar, the Ghanaian currency — the cedi — slipped to C14:$1 versus the U.S. dollar on the foreign exchange parallel market on Nov. 7. The cedi’s reversal is said to have dented the…