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Countries in debt distress such as Zambia and Sri Lanka turning to the International Monetary Fund (IMF) for financial help are facing unprecedented delays to secure bailouts as China and Western economies clash over how to provide debt relief. IMF funding is often the sole financial lifeline available to countries in a debt crunch, and key to unlocking other financing sources...
The Bank of Mexico said on Wednesday that inflation is taking longer than initially anticipated to return to its target, in large part due to the persistence of core inflation. Banxico, as Mexico's central bank is known, forecast that annual headline inflation would hit 4.9% in the fourth quarter of 2023, up from a prior projection of 4.1%. The upward revision in the forecast trajectory for...
Australia’s Central Bank Identifies CBDC Use Cases as It Prepares Pilot LaunchMar 2, 2023 - 06:03:00 PST
Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.
‘We Are Heading Down’: Leon Cooperman Warns That Stocks Could Plunge 22% From HereMar 2, 2023 - 05:57:12 PST
For those pining for the year’s early bull run to pick up steam again, take heed. One well-known investing sage thinks that is completely unlikely to happen. Billionaire investor Leon Cooperman thinks the S&P 500 is about to slip by 22% from here while also anticipating the US economy gets dragged down into a recession.
n an announcement late on Wednesday, the central bank said it will intervene by selling dollar cash to individuals and companies at 70,000 pounds per US currency. That compares with the official exchange rate of 15,000, which will stay unchanged after the pound’s 90% devaluation a month ago.
El Erian: What Now for a Fed That Has Fallen Behind the Curve Again?: BloombergMar 2, 2023 - 05:37:30 PST
The central bank downshifted rate increases too early and now faces a set of dilemmas and another knock to its credibility.
When borrowing costs rise, governments end up paying more interest. That fiscal blow is now landing faster than it used to.
“I think it's very possible that without the right restrictions, and guidelines, and sort of boundaries in place, these things can evolve to be probably very problematic in many concerning ways,” explained Edward McFowland III, assistant professor in the technology and operations management unit at Harvard Business School.
The mission objective of the World Economic Forum (WEF) is remarkably simple: the smartest, best people in the world should rule everyone else. In WEF parlance, their schemes of total supervision and behavioral modification will create a "sustainable" future for humanity. Humans become nothing more than "things" to be counted, shuffled, categorized, tagged, monitored, manipulated, and controlled. They become nothing more than cogs in the WEF's great trans-humanist, technocratic machine.
House Republicans Accuse Biden White House Of Creating 'Authoritarian-Style' Digital DollarMar 2, 2023 - 05:29:02 PST
President Joe Biden and his administration are attempting to develop an “authoritarian-style” and “surveillance-style” digital U.S. dollar through executive orders, warned House Majority Whip Tom Emmer (R-Minn.) on Tuesday.
US Explores Central Bank Digital Currency to Preserve Dollar’s Reserve StatusMar 2, 2023 - 05:27:29 PST
"We are thinking about whether a U.S. CBDC, to the extent it has functionality that traditional forms of central bank money lack, could help to preserve the dollar's global role," Liang said in a speech at the Atlantic Council on Wednesday. "We are also thinking about whether a U.S. CBDC could help reduce undesirable frictions in cross-border payments or other activities."
The calm investing era is over. Expect volatility.
Following disappointingly hotter than expected prints from Germany, France, and Spain; overall EU inflation slowed by less than expected in February (+8.5% YoY vs +8.3% exp vs +8.6% prior), while the euro-area's core CPI surged to a new record high (+5.6% vs +5.3% exp vs +5.3% prior).
Enthusiasm about China’s economic rebound fades in the absence of further evidence, adding to cautious sentiment.
Mar 1, 2023 - 12:49:10 PST
We are seeing increasing investments on silver's side, it continues to grow year after year... The fundamentals are just stronger for silver," Smallwood asserts. "We saw the U.S. dollar weaponized so a lot of central banks around the world made a big swap toward the gold space," he continues...
As price pressures rattle global markets, the above infographic maps inflation rates globally using data from Trading Economics, focusing in on the countries with the lowest inflation levels.
"The negotiations around raising the debt ceiling should be that opportunity to provide fiscal sanity. If not, we will have more costly consequences that Americans can’t afford." ~ Vance Ginn
Food Banks Prepare for Emergency Benefits to Go Away as Americans Struggle to Make Ends MeetMar 1, 2023 - 12:12:05 PST
As the COVID-era Supplemental Nutrition Assistance Program (SNAP) benefits are set to expire this month, some food banks are warning that the majority of their clients – who are working-class families – "are struggling to make ends meet."
Treasury 10-year yields topped 4% for the first time since November, signaling that the Federal Reserve’s warnings of higher-for-longer rates are finally sinking in.
Federal Reserve officials said interest rates will need to increase further and stay elevated into next year to curb US inflation that’s showing few signs of abating despite the central bank’s most aggressive monetary tightening in a generation.