Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell 

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process 'Early,' Says Powell The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed that ongoing rate increases are anticipated to bring inflation down to the target range of 2%. FOMC Outlines […]

Go to Source

Powered by WPeMatico

Argentine Peso Loses Almost 12% Against the Greenback During January; Inflation Projected to Rise Sharply

argetine peso devaluation inflarionThe Argentine peso has fallen consistently against the U.S. dollar this month, losing almost 12% since Jan. 1. The behavior of the exchange rate for the informal “blue” dollar keeps bringing concerns about a possible escalade in inflation rates, that are predicted to reach almost 100% this year, similar to the rates registered in 2022. […]

Go to Source

Powered by WPeMatico

Market Strategist Warns of ‘Blood’ on February 1 Ahead of Fed Meeting

Market Strategist Warns of 'Blood' on February 1 Ahead of Fed MeetingStocks, precious metals, and cryptocurrencies rallied during the first month of the year, and market strategists are saying that markets could retract in the near future if the U.S. Federal Reserve keeps hiking rates and maintaining a broader tightening policy. In three days, on Feb. 1, 2023, the Federal Open Market Committee (FOMC) is set […]

Go to Source

Powered by WPeMatico

Robert Kiyosaki Says ‘We Are in Global Recession’ — Warns of Soaring Bankruptcies, Unemployment, Homelessness

Robert Kiyosaki Says 'We Are in Global Recession' — Warns of Soaring Bankruptcies, Unemployment, HomelessnessThe famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that we are in a global recession. Warning of soaring bankruptcies, unemployment, and homelessness, he noted that there is good news for investors looking for “bargains.” Robert Kiyosaki’s Latest Warnings The author of Rich Dad Poor Dad, Robert Kiyosaki, is back […]

Go to Source

Powered by WPeMatico

Gold to Lose Its Shine as Harry Dent Predicts Massive Crash; Bitcoin to Follow Suit With Low of $3,250

Gold to Lose Its Shine as Harry Dent Predicts Massive Crash; Bitcoin to Follow Suit With Low of $3,250Gold has seen a significant increase in value in 2023, with spot prices rising from $1,823 per ounce to the current price of $1,937 per ounce. However, Harry Dent, founder of HS Dent Investment Management, believes that this trend may not continue in the near future. Dent predicts that gold may lose value to the […]

Go to Source

Powered by WPeMatico

Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries

luis inacio lula da silva brazil common currency latam mercosur bricsPresident of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also countries from BRICS and Mercosur. Lula […]

Go to Source

Powered by WPeMatico

Jim Cramer Says Avoid Crypto, Stick With Gold for ‘Real Hedge’ Against Inflation and Economic Chaos

Jim Cramer Says Avoid Crypto and Stick With Gold for 'Real Hedge' Against Inflation, Economic ChaosThe host of Mad Money, Jim Cramer, has advised investors to avoid crypto and stick with gold if they “seriously want a real hedge against inflation or economic chaos.” He added that bitcoin is too volatile to use as a currency. “Imagine business owners trying to conduct transactions with shares of Facebook or Google … […]

Go to Source

Powered by WPeMatico

Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa’s Top 15 Currencies

In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa’s top 15 currencies. While one U.S. dollar bought 13.10 units of the cedi on the parallel market, according to the latest Bank of Ghana data, one greenback buys around 10.36 […]

Go to Source

Powered by WPeMatico

Casting Stones From a Glass House: Yellen’s Comments on Zambia’s Debt Restructuring Draw Criticism From Chinese Embassy

Casting Stones From a Glass House: Yellen's Comments on Zambia's Debt Restructuring Draw Criticism From Chinese EmbassyThe Chinese embassy in Zambia denounced the United States over its debt limit and the “extraordinary measures” Treasury secretary Janet Yellen has implemented to stave off a U.S. debt default. Yellen said on Monday that it was very important that Zambia restructure its debt, but Zambia sees it differently. The embassy castigated Yellen’s comments in […]

Go to Source

Powered by WPeMatico

Brazil and Argentina to Start Working on Creation of Latam Common Currency

common currency latam brazil argetinaBrazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration project in the future. Brazil and Argentina to Spearhead Common Currency Issuance Project […]

Go to Source

Powered by WPeMatico