Balaji Srinivasan, the former Chief Technology Officer of Coinbase, recently settled a million-dollar bet in what he stated was an attempt to raise awareness about the potential risk of hyperinflation in the economy.
A former Bank of England economist forecasts inflation in the U.K. will decline quickly as officials consider the next steps to ward off rising prices, including increasing the prime rate of interest, according to reports.
The U.S. Federal Reserve’s efforts to curb inflation could move the country closer to recession as it mulls yet another quarter-of-a-percentage-point increase to the benchmark interest rate, moving it to a range of 5% to 5.35%, according to reports.
In an announcement on Thursday, 11 May 2023, the Bank of England's Governor, Andrew Bailey, detailed a 0.25 percentage point increase in the Bank Rate, bringing it up to 4.5%.
As Britain struggles to lower interest rates of inflation among the G7 group of major countries, choppy seas may be ahead as Goldman Sachs is sounding the alarm, warning that the Bank of England may be forced to raise interest rates to 5% by summer.
The T. Rowe Price Global Markets Monthly Update for March 2023 reveals that equities recorded generally positive but widely divergent returns, as turmoil in the banking sector in the U.S. and Europe affected interest rate and growth expectations.
The luxury market is set to experience contrasting dynamics in the coming months, with US consumers reducing spending on non-essential goods while China's reopening offers a tailwind for the sector, according to research from J.P. Morgan.
JPMorgan CEO Jamie Dimon predicts that more bank failures could be incoming, an assessment the the Library of Economics and Liberty (EconLib) agrees with.
The U.S. Small Business Administration (SBA) has finalized two rules aimed at addressing gaps in access to capital for small business owners in underserved communities, in line with the Biden-Harris Administration's efforts to grow the economy from the middle out and bottom-up.
On May 3, the Federal Reserve increased interest rates for the tenth time in 14 months but withdrew from its earlier predictions of additional rate hikes.
The President and Chief Executive Officer of the Federal Reserve Bank of Cleveland, Loretta J. Mester, spoke at the Akron Roundtable Signature Series on April 20th, highlighting the progress made in the economy but cautioning that inflation remains stubbornly high.
The U.S. Department of the Treasury recently announced sanctions for agents that supplied precursor chemicals to Mexican drug cartels that would use them to produce illicit fentanyl intended for U.S. markets.
The European Central Bank (ECB) announced a 25 basis point increase in its three key interest rates to combat the ongoing high inflation pressures in the euro area.
Deputy Governor of the Bank of England, Ben Broadbent, recently spoke at the National Institute of Economic and Social Research, discussing the effects of monetary policy and whether they should be understood in terms of interest rates and bond yields or monetary aggregates.
The Federal Reserve raised its policy interest rate by a quarter percentage point May 3, citing the need to address high inflation and achieve price stability.
The US economy exhibited continued strength in Q1 2023, with real GDP increasing 1.1% at an annual rate and employers adding an average of 345,000 payroll jobs per month, according to the US Treasury Department.
The Congressional Budget Office (CBO) has warned of a significantly increased risk that the US Treasury will run out of funds in early June due to lower-than-anticipated tax receipts through April.
If enacted, the "Limit, Save, Grow Act of 2023" could negatively affect near-term economic growth, with real GDP being 0.65 percentage points lower in the year ending in the fourth quarter of 2024 compared to a scenario with a clean debt limit increase.
The Federal Reserve plans to launch its live transactions service, FedNow, in July. The Fed addressed some frequently asked questions about the new system on Twitter and said FedNow is not a central bank digital currency (CBDC), which many other countries are developing and several have launched, including China.
