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Federal Reserve Chair Jerome Powell has built a reputation as a skilled advocate for the U.S. central bank, thanks to strong personal ties forged with Congress that will help if he’s nominated for a second term.Powell has worked Congress during his three years at the helm like no Fed chair since Alan Greenspan. But where Greenspan was a regular of the cocktail...
Coinbase Slammed for What Users Say Is Terrible Customer Service After Hackers Drain Their AccountsAug 24, 2021 - 06:46:03 PDT
Customers of the nation's largest cryptocurrency exchange, Coinbase, say their accounts were taken over by criminals and the company's customer service is poor.
After being put on pause due to a coronavirus surge, the recovery of India's gold market appears to be back on track.
The Federal Reserve confers this week, and Chairman Jerome Powell is expected to clarify the central bank’s position. He battles internal dissension over how to proceed, and a haywire economic recovery hampered by the Delta variant.
Fed Tapering Bond Purchases Could Pressure Stock Market: Jeffrey GundlachAug 24, 2021 - 05:45:30 PDT
Investors may be wise to tread lightly in the stock market as the Federal Reserve nears the start of its bond tapering program, hints DoubleLine Capital founder and CEO Jeffrey Gundlach.
As prices continue to spiral upward and the Federal Reserve maintains its inflationary monetary policy, a lot of people in the mainstream keep talking about inflation as a good thing. Peter Schiff said it seems like they're trying to soften us up and make us willing to accept higher inflation. But as he explains in this clip from his podcast, these pundits are missing a fundamental truth — no matter how much money the Federal Reserve prints, it can't print actual stuff.
The Federal Reserve’s floor for overnight funding markets is proving to be no match for the deluge of cash. Money-market securities ranging from Treasury bills to repurchase agreements continue to trade below 0.05% -- the offering rate on the overnight reverse repo facility, which is supposed to act like a floor for the front end. The Fed at its June meeting...
Aug 24, 2021 - 05:40:53 PDT
China’s central bank chief vowed to stabilize the supply of credit and boost the amount of money supporting smaller businesses and the real economy, after both credit and economic growth slowed in July.The People’s Bank of China will keep monetary policy stable with a good cross-cyclical design and will support high-quality economic expansion with...
Fastest Bull Market In History As S&P 500 Doubles. This Won't End Well - Taking On Debt To InvestAug 24, 2021 - 05:34:57 PDT
Financial advisors get a bad rap. Some deserve it; most don't. The problem for the financial advisory community stems from the "career risk" they face.
Walmart Launches Delivery Business To Connect Other Local Retailers With ConsumersAug 24, 2021 - 05:31:58 PDT
Walmart on Tuesday announced the launch of a delivery service called GoLocal, which will carry goods from other retailers to consumers.
Quantifying The "Staggering Costs" Of US Military Equipment Left Behind In AfghanistanAug 24, 2021 - 05:22:36 PDT
The U.S. provided an estimated $83 billion worth of training and equipment to Afghan security forces since 2001. This year, alone, the U.S. military aid to Afghan forces was $3 billion.
World Leaders Prepare for Emergency G-7 Meeting on Afghanistan As U.S. Withdrawal Deadline NearsAug 24, 2021 - 05:10:29 PDT
The meeting will come just one week ahead of the U.S.'s Aug. 31 deadline for the complete withdrawal of its forces from Afghanistan.
Best Buy Shares Rise on Earnings Beat, Retailer Says Consumers Are Upgrading Tech To Work at HomeAug 24, 2021 - 05:08:08 PDT
The consumer electronics retailer said it has benefited from a healthy consumer, government stimulus and permanent lifestyle changes.
House Delays Vote To Advance Biden’s Economic Agenda As Centrist Democrats Derail Pelosi’s PlansAug 24, 2021 - 05:07:01 PDT
Centrist Democrats have pushed Pelosi to vote on the bipartisan infrastructure bill before the House passes a $3.5 trillion budget resolution.
Treasury Yields Inch Higher Ahead of New Home Sales Report, 2-Year Auction: MWAug 24, 2021 - 05:04:12 PDT
U.S Treasury yields edged higher Tuesday morning as U.S. stocks were seen extending their climb into record territory. An auction of some $60 billion in 2-year notes later in the session also was on investors’ radar.
Silver Eagle & Maple Sales Surge In 2021 Even As Investors Continue To Pay High PremiumsAugust 24, 2021
Silver Eagle and Silver Maple sales surged in the first half of the year as investors continued to exchange fiat currency for real money. Both official silver coins experienced significant increases in sales as investor demand remained strong along with sufficient supply. However, with the shutdown of the U.S. Mint for the new design...
The euphoria in the U.S. housing market may be flashing a danger signal, and lofty home values could be at risk of a sharp drop.
In the middle of the night of June 8, El Salvador passed a law that made Bitcoin legal tender. The Bitcoin Law is the brainchild of El Salvador’s populist president, Nayib Bukele. Its most controversial feature is Article 7, which stipulates that every economic agent in El Salvador must accept Bitcoin as payment for goods and services. Accordingly, after September 7,...
I still maintain no one will mark June 16th, 2021 as the day the world changed. Watching the dollar surge into this weekend thanks to a breakdown in the euro only validates that conclusion in my mind. Remember, on June 16th Presidents Biden and Putin met for a summit which altered the course of geopolitics […]
The reduction in the U.S. Treasury Department cash pile that’s helped fuel imbalances in short-term interest-rate markets has now exceeded $1.5 trillion and the distortions may be far from over.The cash balance ballooned last year as the government ramped up borrowing and spending to combat the economic effects of coronavirus-related shutdowns, hitting as...