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Elizabeth Warren Unveils Bipartisan Bill to Crack Down on Crypto Money LaunderingDec 14, 2022 - 07:42:34 PST
As federal prosecutors seek to imprison former crypto darling Sam Bankman-Fried, Sen. Elizabeth Warren is attempting to push through Congress a bipartisan crackdown on money laundering in the crypto industry.
Brazil's central bank aims to launch its digital currency in 2024 after a closed pilot program next year with financial institutions, bank president Roberto Campos Neto said on Tuesday, adding that the project had received international attention. Speaking at an event hosted by the news website Poder 360, Campos Neto said the design of the central bank's digital...
Cereals and dairy are tied for the lead at 16.4 percent with other food at home a distant third at 13.9 percent.
Glimmer of Hope that Rate Hikes & QT Pushed Down Inflation or Just Another CPI Head Fake? (The Fed Warned on Head Fakes)Dec 14, 2022 - 07:19:10 PST
Inflation in many services is red-hot. Health insurance CPI pushed down again by record mega-adjustment.
Dec 14, 2022 - 07:12:57 PST
The Refinance Index increased 3 percent from the previous week and was 85 percent lower than the same week one year ago. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 38 percent lower than the same week one year ago.
Austria is a financially conservative country in which the public hoards cash and gold in times of crisis. The Mint says demand for gold is the highest it has been since it took on its current form in 1989.
Gold prices held above the $1,800 per ounce pivot on Wednesday as signs of cooling U.S. inflation lifted expectations the Federal Reserve will adopt a less aggressive policy stance later in the day. Spot gold was little changed at $1,807.77 per ounce, as of 0957 GMT. Gold price rose as much as 2.4% to their highest level in more than five months on...
Globally, total private- and public-sector debt as a share of GDP rose from 200% in 1999 to 350% in 2021. The ratio is now 420% across advanced economies, and 330% in China.
Dec 14, 2022 - 05:56:12 PST
"Do we crush the economy more? Not a good idea," top economist Mohamed El-Erian said, warning a recession looks likely.
Ignore CPI And The FOMC: Why Michael Wilson Sees A Bloodbath Ahead In This Rerun Of 2008Dec 14, 2022 - 05:49:45 PST
It's probably a good thing that Morgan Stanley's Mike Wilson - who called the latest peak in stocks at the start of the month as the end of the bear market rally he had correctly predicted earlier in the fall, and now expects a steep drop heading into the first half of 2023 - didn't double down on his bearish view heading into the CPI print: he would have been dead wrong (actually, he kinda did).
Federal Reserve Chair Jerome Powell and other Fed policymakers meet this week to raise borrowing costs again in a fight against the highest inflation in four decades that they're not close to winning.
The dollar traded at its lowest in six months against the euro and pound on Wednesday after data showed U.S. inflation is cooling off, which investors believe gives the Federal Reserve room to slow the pace of future rate hikes.
WASHINGTON (AP) — After four straight three-quarter-point interest rate hikes, the Federal Reserve is set to announce a smaller half-point increase in its key rate Wednesday, a first step toward dialing back its efforts to combat inflation.
China’s key indicators this week will likely show the economy worsened in November, putting it in a vulnerable position as Beijing’s sudden pivot away from Covid Zero brings more disruption to growth.
Mortgage Rates Drop After CPI Report, but the Housing Market Is Far From Out of the WoodsDec 14, 2022 - 05:26:06 PST
The rate on the popular 30-year fixed-rate mortgage fell to 6.28%, but that's still dramatically higher than where it was a year ago.
Sales of previously owned U.S. homes will fall for a second year in 2023 to their lowest annual total since 2012 when the housing market was still in a slow recovery from the sub-prime mortgage crisis, but sales prices should hold up, the National Association of Realtors said on Tuesday.
The European Central Bank expects inflation to remain above its 2% target for the next three years, one source told Reuters, more than markets currently expect and signalling its fight against runaway prices is far from over.
Professional speculators with billions in bearish trades on the line endured a rough ride after Tuesday’s report on US consumer prices brought the latest sign that the Federal Reserve is making progress in its battle against inflation.
The Federal Reserve’s revised dot plot that will be unveiled Wednesday will acknowledge the need for policymakers to raise rates higher than previously anticipated in order to put the inflation genie back into the bottle.
Day one of the most important 48 hours for markets in December has come and gone, and after today's CPI print came in weaker than expected - which sparked a furious market meltup which however fizzled after the early spike - all eyes now turn to what the Fed will announce at 2pm tomorrow...