The Federal Reserve started a practice last year that continues in 2023 to combat inflation by increasing short-term interest rates. The Federal Open Market Committee (FOMC) earlier this month set the rate at a range of 5% to 5.25%.
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.
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.
JPMorgan CEO Jamie Dimon predicts that more bank failures could be incoming, an assessment the the Library of Economics and Liberty (EconLib) agrees with.
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.
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 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.
More than 50 individuals and entities associated with an international money-laundering network that supports a financier for Hizballah have been blacklisted by the U.S. Department of the Treasury.
The regulation of centralized marketplaces is not a new concept, and lessons learned from those marketplaces can be adopted by the cryptocurrency industry, according to the global head of a cryptocurrency exchange.
A new research paper by the Federal Reserve Bank of Cleveland finds that high short-term inflation expectations will make it difficult to bring down inflation.
