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Congress Scrambles to Finalize COVID Relief, Avoid Shutdown As Deadline Draws NearDec 17, 2020 - 08:16:36 PST
The government will shut down Saturday and 12 million people will lose unemployment benefits the day after Christmas if lawmakers fail to act.
SEC Charges Robinhood with Misleading Customers About How It Makes MoneyDec 17, 2020 - 08:15:14 PST
Robinhood agreed to pay a $65 million civil penalty, without admitting or denying SEC's findings.
The offshore yuan quickly erased an advance after hitting 6.5 per dollar, suggesting that the level could be a new line in the sand for a currency that’s set to climb for a third quarter.
Euro zone annual inflation was negative for a fourth consecutive month in November, matching a four-year low, as energy prices were around 8% lower than a year earlier.
Germany will sell a record amount of federal debt in 2021 to help prop up the economy in the second year of the coronavirus crisis.
Investment in physical silver is expected to surge by 27% to 236.8 million ounces in 2020, a 5-year high. This was one of the highlights of the annual Interim Silver Market Review highlighted in the December issue of the Silver Institute's Silver News.
In its last meeting of 2020, the Federal Reserve made it clear the easy-money spigot will remain wide open into the foreseeable future. During his post-meeting press conference, Federal Reserve Chairman Jerome Powell seemed clueless about the ramifications of this policy - particularly the impact of inflation. Peter Schiff talked about the Fed meeting and Powell's comments in his podcast, saying Powell's ignorance won't be bliss.
Gold advanced after the Federal Reserve strengthened its commitment to supporting the recovery in the world’s largest economy, and U.S. lawmakers made progress on a stimulus package.
After rising for three of the last four weeks (with a big surge in the previous week) as lockdowns re-accelerate across America, analysts expected initial jobless claims to slow modestly this week, but instead claims soared from an upwardly revised 862k to 885k - the highest number of Americans seeking first-time unemployment benefits since September.
Billions Spent on U.S. Defenses Failed to Detect Giant Russian Hack: NYTDec 17, 2020 - 05:34:52 PST
The broad Russian espionage attack on the U.S. government and private companies, underway since spring and detected only a few weeks ago, is among the greatest intelligence failures of modern times.
“The Federal Reserve will continue to increase its holdings of Treasury securities by at least $80bn per month and of agency mortgage-backed securities by at least $40bn per month until substantial further progress has been made toward the committee’s maximum employment and price stability goals,” the FOMC said.
With debt levels soaring following the government’s pandemic-driven aid package, sustained growth hinges on fiscal adjustments and compliance with public expenditure rules, the OECD warned in an economic survey of Brazil published Wednesday.“Without strong action financing costs could rise substantially,...
It seems Christmas came early for many this year. On Thursday, the European Central Bank (ECB) announced an additional $605 billion to its ongoing stimulus program. Under the bank’s Pandemic Emergency Purchase Programme (PEPP), the total asset purchases are now valued at $1.85 trillion euros, now set to run to March 2022.
Powell Says Stock Prices Are Not Necessarily High Considering the Low Level of Interest RatesDec 17, 2020 - 05:16:27 PST
Stocks at record highs and bond yields not far from their historic lows are telling two different stories, but Federal Reserve Chairman Jerome Powell said he isn’t worried about the disparity.
The dollar fell to its lowest in over two years against major currencies on Thursday after the Federal Reserve stuck to its current policy guns while hopes for more U.S. stimulus and a post-Brexit trade deal boosted appetite for riskier currencies.
Swiss Central Bank Chief Rejects ‘Currency Manipulator’ Label from the U.S.Dec 17, 2020 - 05:06:42 PST
The U.S. Treasury on Wednesday added Switzerland to a list of nations it suspects of deliberately devaluing their currencies against the U.S. dollar.
Bank of England Holds Rates Steady As Coronavirus Outlook Remains UncertainDec 17, 2020 - 05:04:44 PST
The U.K.'s central bank on Thursday kept its monetary policy stance unchanged as much of the country enters the festive period under the highest tier of coronavirus restrictions.
Despite Dr. Fauci's cries about how all vulnerable Americans should make sure to get their flu shots to protect against a deadly vortex of a COVID-19-supercharged flu season "twindemic", it appears influenza-related infections, hospitalizations and confirmed cases over the past couple of months have been much, much lower than the 'experts' had anticipated.
The U.S. is recording at least 215,729 new Covid-19 cases and at least 2,570 virus-related deaths each day, based on a seven-day average of JHU data.
With the Bitcoin price exploding above $20,000, many investors wonder how Gold now compares with the high-flying cryptocurrency. We are hearing more stories by the High-Tech Finance Afficiandos that Bitcoin is now going to replace gold. So, with the price of Bitcoin doubling in less than two months...