24 / 39 Relevant items tagged with #Economics
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Another US Bank Collapses: Heartland Tri-State Bank Closed by Regulator
[Jul 29, 2023 11:30 PM] Heartland Tri-State Bank has become the latest bank in the U.S. to fail. The Kansas banking regulator closed the bank and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver on Friday. Regulator Shuts Down Heartland Tri-State…
Russian Official Says BRICS Currency Could Be Discussed at Upcoming Summit
[Jul 29, 2023 9:30 PM] Russia’s deputy prime minister has stated that the topic of a common BRICS currency may still be on the table at the economic bloc’s upcoming leaders’ summit. A total of 69 leaders, including all African heads of state, have already been…
Economist Peter Schiff Advises ‘Get out of the Dollar’ — Says the USD Is Being Destroyed
[Jul 27, 2023 8:00 PM] Economist Peter Schiff has warned that the Federal Reserve is wrong about its recession outlook, advising everyone to get out of the U.S. dollar. He stressed that the U.S. currency is being destroyed, emphasizing that it is losing purchasing power…
Robert Kiyosaki Insists US Dollar Will Die as BRICS Summit Nears, 41 Nations to De-Dollarize the World
[Jul 27, 2023 6:00 PM] Rich Dad Poor Dad author Robert Kiyosaki has reiterated his warning about the impending demise of the U.S. dollar as the BRICS summit approaches. The famous author anticipates the launch of a new currency by the economic bloc and the…
ECB Tightens Grip With 12th Consecutive Rate Hike; Lagarde Asserts ‘No Cuts’ Amid Lingering Inflation Concerns
[Jul 27, 2023 12:30 PM] The European Central Bank (ECB) has raised the benchmark bank rates by 25 basis points (bps) citing that inflation was down but still remained “too high for too long.” When ECB president Christine Lagarde was pressed about cutting rates by…
South Africa’s Foreign Minister Hints at Expansion of BRICS Bloc With 3 New Members
White House Says US Policy Allows Partners to Seek BRICS Membership
[Jul 26, 2023 6:00 PM] The White House has affirmed that U.S. policy does not ask partners to choose between the U.S. and other countries, including the BRICS nations. “The U.S. does not want to limit countries’ partnership with other countries,” said Press Secretary…
Federal Reserve Raises Federal Funds Rate by 25bps Amidst Moderate Economic Growth
[Jul 26, 2023 12:45 PM] In the latest Federal Open Market Committee (FOMC) report, it was stated that the U.S. economy has been experiencing moderate growth and members of the committee have decided to raise the federal funds rate by 25 basis points (bps) in order to keep…
Former Central Banker Discusses How Chinese Yuan Could Become on Par With US Dollar
[Jul 25, 2023 10:00 PM] A former central banker has explained that three conditions must be met for the Chinese yuan to become a currency on par with the U.S. dollar and the euro. Noting that the yuan is already the third-largest international currency after the USD and…
BRICS Invites 69 Leaders to August Summit — Western Countries Omitted
[Jul 25, 2023 8:00 PM] The BRICS economic bloc has invited 69 leaders to its upcoming summit, including all African heads of state and the political heads of major Global South bodies. More than 40 countries have expressed interest to join the BRICS group, with 22…
Economist Analyzes Challenges of BRICS Currency Competing With US Dollar
Russian Ruble Falls by Over 18% in 2023, Economist Says the Currency Has ‘Stabilized’
[Jul 25, 2023 12:30 AM] After the Russian currency touched a year low versus the greenback of nearly 92 units for every dollar, economist Robin Brooks said the ruble has stabilized and may eventually be lifted by rising oil prices. The Institute of International Finance…
Algeria Readies $1.5B BRICS Bid: Major Move for Membership in the Cards?
[Jul 24, 2023 6:30 PM] As quoted by Ennahar TV, Algerian president Abdelmadjid Tebboune has signaled that Algeria — Africa’s largest nation — is eager to align itself with the BRICS coalition. He conveyed that this significant alignment with the five major emerging…
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…
BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization
[Jul 22, 2023 7:30 PM] The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on…
BRICS Interest Soars: 40+ Countries Seek Membership as De-Dollarization Efforts Grow
[Jul 20, 2023 9:30 PM] South Africa’s top diplomat responsible for BRICS relations has revealed that more than 40 countries are interested in joining the economic bloc. Among them, 22 nations have formally applied for membership. He believes that the BRICS group…
JPMorgan Warns Dollar Dominance Faces Risks From Political Instability, US-China Tensions
Former US President Donald Trump Warns of Economic Depression if He’s Not Elected
Scientists warn the ‘quantum revolution’ may stagnate economic growth
[Jul 19, 2023 2:00 PM] There are “traps” lying in wait for innovators at the vanguard of fintech and quantum computing, according to researchers.
Nigeria Declares Food Emergency After Sixth Consecutive Increase in Inflation Rate
[Jul 19, 2023 5:30 AM] The Nigerian government declared a food price emergency after the latest data from the National Bureau of Statistics (NBS) showed that the country’s inflation rate had gone up by 0.38% to 22.79%. The NBS said the June inflation figure does…
Economist Sounds Alarm on US Dollar Losing Reserve Currency Status
[Jul 18, 2023 9:30 PM] An economist with the Heritage Foundation has warned about the potential calamity of the U.S. dollar losing its reserve currency status. He stressed that “The Biden administration has taken so many actions to dethrone King Dollar that it would be…
Nobel Laureate Paul Krugman Says US Dollar Dominance Won’t Last Forever but Doubts Chinese Yuan Can Replace USD
India and UAE Break Away From US Dollar: Landmark Agreement Enables Trade Settlements in Rupees and Dirhams
[Jul 16, 2023 4:00 PM] In a compelling turn of events this Saturday, India and the United Arab Emirates (UAE) inked a landmark agreement facilitating trade transactions to be settled in their native currencies, rupees and dirhams, instead of relying on the U.S. dollar…
Yellen Champions Ukraine Support as ‘Single Best Thing We Can Do for the Global Economy’ Ahead of G20 Summit
[Jul 16, 2023 2:00 PM] Janet Yellen, serving as the 78th U.S. Treasury secretary, emphatically declared on Sunday that bolstering Ukraine represents “the single best thing we can do for the global economy.” Furthermore, Yellen expressed caution regarding the…
IMF Has Not Seen Specific Proposal on BRICS Currency
Robert Kennedy Jr Says Biden Is ‘Preparing for Ground War With Russia’ as World War III Warnings Escalate
Robert Kiyosaki’s Warnings: Giant Crash Incoming, End of US Dollar Approaching
JPMorgan CEO Jamie Dimon Calls 2023’s Banking Fiasco a ‘Mini Crisis’, Foresees Consumer Savings Depleted by Year’s End
[Jul 15, 2023 10:00 AM] Four days ago, JPMorgan Chase CEO Jamie Dimon was interviewed by The Economist and he discussed the recent U.S. banking disaster that occurred last March. At that time, the public witnessed the second, third, and fourth largest bank failures in…
Russia, 10 Southeast Asian Nations Discuss Using National Currencies in Trade Settlements
[Jul 14, 2023 9:30 PM] Russia is discussing using national currencies in trade settlements with 10 Southeast Asian countries, members of the Association of Southeast Asian Nations (ASEAN), Russian Foreign Minister Sergey Lavrov has revealed. The move comes as more and…