Former Federal Reserve Chairman Ben Bernanke has been awarded a Nobel Prize in Economics. The Nobel Prize committee believes that he “significantly improved our understanding of the role of banks in t...
Tag: Economics
JPMorgan CEO Jamie Dimon Warns Recession Could Hit in 6 Months, Stock Market Could Drop 20% More — ‘This Is Serious Stuff’ – Economics Bitcoin News
The CEO of global investment bank JPMorgan, Jamie Dimon, has warned that the U.S. economy could tip into recession in six to nine months. “This is serious stuff,” the executive stressed, adding that t...
Canada’s Tiff Macklem Insists ‘Rate Increases Are Warranted,’ Canadian Columnist Says Central Bank’s Governor ‘Needs to Go’ – Economics Bitcoin News
Canadians have been dealing with rising inflation and the Bank of Canada raising the benchmark interest rate following more than two years of monetary easing tactics. On Sunday, Canadian central bank ...
Bank of England to Double Long-Dated Gilt Buy-Backs, QE Policy to See an ‘Orderly End’ in Mid-October – Economics Bitcoin News
After the British pound sterling tapped an all-time low against the U.S. dollar on September 26, the Bank of England (BOE) said it would halt its monetary tightening policy and start buying long-dated...
Former Fed Chief Bernanke Shares Nobel Prize In Economics For Work On Financial Crises
Topline Former chair of the U.S. Federal Reserve Ben Bernanke was among a trio of U.S.-based economists awarded the 2022 Nobel Prize in economic sciences, the Royal Swedish Academy of Sciences announc...
Nobel economics prize awarded to Ben Bernanke and 2 others for work on financial crises
U.S.-based economists Ben Bernanke, Douglas Diamond and Philip Dybvig have been awarded the Nobel prize in economic sciences for 2022 for research on banks and financial crises. The winners of the pri...
Brace for Mortgage Rates to Climb Higher After the Jobs Report
Text size A housing development in Pearland, Texas. Brandon Bell/Getty Images The rising cost of buying a home has cooled the market this year. In a roundabout way, Friday’s jobs report will add to ho...
USD Index Starts Inching Toward Highs Again, Société Générale Economists Say Rebound Towards 114.8 Peak ‘Is Not Ruled Out’ – Economics Bitcoin News
In 2022, the U.S. dollar has been very strong, despite the global economy’s downturn and the rising inflation worldwide. 12 days ago, the U.S. Dollar Index (DXY) rallied to a high of 114.8 and since t...
Robert Kiyosaki Explains Why He Buys Bitcoin Citing Pension Funds and Inflation – Economics Bitcoin News
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has explained why he buys bitcoin. Citing inflation, he detailed that pension funds are investing in cryptocurrency, addi...
OPEC Just Put a New Floor on Oil Prices. Politics Could Break It.
Text size Top oil producers agreed on a major cut in production to boost crude prices, a move denounced by the U.S. Frederic J. Brown/AFP via Getty Images OPEC’s latest controversial decision to cut p...
Mike McGlone Says Gold Price Is ‘Firming’ — Commodity Strategist Insists BTC, ETH Will ‘Outperform Most Major Assets’ – Economics Bitcoin News
Over the last two days, Bloomberg Intelligence commodity analyst Mike McGlone published the firm’s commodity and crypto outlook reports, and McGlone’s latest analysis details that the price of gold co...
Egyptian Pound Latest African Currency to Slump to Record Low Versus US Dollar – Economics Bitcoin News
The Egyptian pound recently became the latest currency from the African continent to see its value versus the greenback slump to a record low. The pound’s fall came amidst reports suggesting the Egypt...
Fed’s Inflation Nowcasting Data Shows Future CPI Increases, US Gross National Debt Hits $31 Trillion – Economics Bitcoin News
A recently published forecast stemming from the Federal Reserve Bank of Cleveland’s Inflation Nowcasting data indicates upcoming U.S. consumer price index (CPI) metrics will likely be elevated. The ne...
PVC Piping Prices Are Dropping as Housing Market Weakens
Text size PVC piping is made from ethylene, a petroleum product that Occidental Petroleum produces. Dreamstime.com As rising interest rates interest rates pummel the housing market, the ripple effects...
UN Report Urges Fed to Suspend Interest Rate Hikes, Presses for ‘Public Spending’ Increases – Economics Bitcoin News
The United Nations Conference on Trade and Development (UNCTAD) has warned that the U.S. Federal Reserve’s interest rate hikes and the slew of other central banks raising rates, could pose harm to the...
UK Gold Dealer Sold Out of Bullion After Pound’s Record Fall Causes Demand to Skyrocket – Economics Bitcoin News
The United Kingdom-based gold dealer, Ash Kundra, has claimed that he recently ran out of gold coins and bars after the demand for the precious metal skyrocketed. The pound’s plunge to a record low ve...
Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar – Economics Bitcoin News
A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a re...
A Strong Dollar Spells Trouble for Some U.S. Companies
The dollar has soared as the Federal Reserve has raised rates. U.S. Treasury yields now provide the best return over expected inflation in more than a decade, incentivizing investors to buy dollars to...
S&P Global Report Says EU and UK Are in a Recession, Putin Thinks the West Is Greedy – Economics Bitcoin News
Today’s blustery global economy has everyone on edge as inflation has wreaked havoc on the wallets of ordinary people and energy prices continue to soar worldwide. According to Credit Suisse, “the wor...
Bond Market Turmoil Could Last a While. How to Ride It Out.
It is an exciting time for fixed income—and a terrifying one, too. Central banks are in the midst of the most dramatic tightening of monetary policy in a generation, which has helped push yields on so...
‘Trading Like a Lehman Moment’ — Credit Suisse, Deutsche Bank Suffer From Distressed Valuations as the Banks’ Credit Default Insurance Nears 2008 Levels – Economics Bitcoin News
It’s been more than a decade since the financial crisis in 2007-2008 when Lehman Brothers, the fourth largest investment bank in the U.S., collapsed and filed bankruptcy. Close to 14 years later, Cred...
Germany’s Inflation Hits Double Digits for the First Time Since WWII, Parliament Reveals $195B Subsidies Package to ‘Make Prices Drop’ – Economics Bitcoin News
Following the Covid-19 pandemic, the massive amount of stimulus, and amid the Ukraine-Russia war, Germany’s inflation has soared. Official data from Germany’s consumer price index (CPI) indicates that...
Biden To Oil Industry: “I Don’t Understand Economics”
American comic, film actor and activist, Irwin Corey, performs on stage at Lulu White’s jazz club, … [+] Boston, USA, 29th August 1978. (Photo by Barbara Alper/Getty Images) Getty Images I...
Citadel CEO Ken Griffin Says Inflation May Have Peaked — Warns a Recession Is Coming – Economics Bitcoin News
Citadel CEO Ken Griffin says inflation may have peaked but a recession is coming. “We’re in a very uncertain time for investors,” the executive cautioned, adding that the Federal Reserve “is grappling...
Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar – Economics Bitcoin News
Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week, the Hong Kong Monetary Authori...
Chainlink launches Economics 2.0 staking programs
Decentralized oracle protocol Chainlink has announced the launch of its long-awaited staking reward programs- the SCALE and BUILD. The programs are part of the Economics 2.0 plan to secure the network...
Bank of England Suspends Tightening Policy as Pound Nosedives — Central Bank to Start Purchasing Long-Dated UK Government Bonds – Economics Bitcoin News
Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets...
What’s The Problem? UK Economic Policy Mirrors Successful 1980s U.S. Effort
LONDON, ENGLAND – JULY 14: Secretary of State for Business, Energy and Industrial Strategy Kwasi … [+] Kwarteng (R) intridcues Conservative leadership candidate Liz Truss (L) as she launch...
The U.K. Economy Is Having a Meltdown. Why It’s Going to Get Worse.
The recent sharp drop in the British pound and in U.K. government bonds means traders are at panic stations, with repercussions being felt across the globe. The spectacular drops in the past month wer...
British Currency Mess Set To Upend U.K.’s Housing Market
STOKE-ON-TRENT – JUNE 16: Various property signs are seen outside a block of terraced houses … [+] advertising homes for sale, let or sold on June 16, 2020 in Stoke-on-Trent. The British g...
U.K. ‘Mini Budget’ Likely Just Dealt Scotland A Fiscal Time Bomb
The flags of Britain, Scotland and European Union wave outside the Scottish parliament in Edinburgh, … [+] Friday, Jan. 31, 2020. Britain officially leaves the European Union on Friday after a d...