Fed’s Bullard Wants to Raise Bank Rate to 3.5% by Year’s End, Hints at 75 Basis Point Rate Hike

Fed's Bullard Wants to Raise Bank Rate to 3.5% by the Year's End, Hints at 75 Basis Point Rate HikeThe 12th president of the Federal Reserve Bank of St. Louis, James Bullard, thinks the U.S. central bank can increase the benchmark bank interest rate by 75 basis points this year. Bullard believes the Fed could raise rates to 3.5% by the fourth quarter of 2022 to combat the red hot inflation plaguing the U.S […]

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Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay TestingThe Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being ready to participate yet. Bank of Russia to Experiment With Digital Ruble Payments This […]

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Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn’t Be Surprised if Stocks Fell 40%

Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn't Be Surprised if Stocks Fell 40%The American economy continues to look gloomy and signals pointing toward a looming recession continue to appear. In a note sent to clients this week, Goldman Sachs’ chief economist said the bank envisions the “odds of a recession as roughly 15% in the next 12 months and 35% within the next 24 months.” Furthermore, the […]

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Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments

Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for PaymentsRussia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms operating with digital assets. Russian Citizens Who Don’t Pass Test to Buy Only $600 Worth […]

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ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound ‘Crucially Depends on How the Conflict Evolves’

ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound 'Crucially Depends on How the Conflict Evolves'After the inflation rate in the eurozone reached a high of 7.5% in March, the European Central Bank (ECB) and the bank’s president Christine Lagarde explained on Thursday the central bank’s bond purchases will cease in Q3. Reiterating what she said at a press conference in Cyprus two weeks ago, Lagarde stressed on Thursday that […]

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Cryptocurrencies Carry Systemic Risks, Threaten Ruble, Bank of Russia Insists

Cryptocurrencies Carry Systemic Risks, Threaten Ruble, Bank of Russia InsistsThe spread of cryptocurrencies brings significant risks for Russia’s economy, financial stability, and national fiat, the monetary authority in Moscow has reiterated. The central bank has reaffirmed its hardline stance on decentralized digital money in a new report published as the government prepares to regulate the Russian crypto space. Central Bank of Russia Issues Warnings […]

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Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial

Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital RialIran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which should start in the near […]

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Russia’s Central Bank Slashes Benchmark Rate, Pegs RUB to Gold — Ruble Rebounds to Pre-War Levels

Russia's Central Bank Slashes Benchmark Rate, Pegs RUB to Gold — Ruble Rebounds to Pre-War LevelsAmid the Ukraine-Russia conflict, the Russian ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. The country’s central bank has taken a few steps to protect the nation’s currency as the Bank of Russia revealed a fixed price for gold and rubles. Furthermore, after pegging the fiat currency to gold, […]

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