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Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says that the Federal Reserve “has no intention of fighting inflation.” He added that the Fed’s “Serial half-point hikes are for getting elevation before stocks and the consumer tap out.” Michael Burry on Inflation and Fed’s Rate Hikes Famous investor and founder of … Read more
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 … Read more
Inflation in the U.S. continues to remain red hot as consumer prices last month increased sharply to 8.5% in March compared to the same month last year. Metrics show the Bureau of Labor Statistics’ (BLS) Consumer Price Index (CPI) spiked last month at the fastest pace since December 1981. Inflation Continues to Hammer the US … Read more
The co-founder and former CEO of Bitmex, Arthur Hayes, has published a new blog post concerning the current state of cryptocurrency markets. Hayes says currently there’s an inability to recognize the cyclical nature of markets and the “inconvenient truth” that is crypto is now moving in “lockstep” with market equities. Hayes expects the Nasdaq 100 … Read more
Amid 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, … Read more
On Friday, Bank of America’s (BOFA) chief investment strategist Michael Hartnett explained in a weekly financial note to clients that the U.S. economy could head into a recession. The BOFA strategist’s note further detailed that cryptocurrencies could outperform bonds and stocks. BOFA Strategist Notes inflation Shock Is Worsening, Cryptocurrencies Could Outperform Bonds and Stocks Bank … Read more
While inflation continues to roar in the U.S., the inflation rate in the eurozone tapped another high last month reaching 7.5% in March. Energy and food prices have soared throughout the 19 member state economies, and European Central Bank president Christine Lagarde expects energy prices to “stay higher for longer.” Eurozone Inflation Continues to Climb, … Read more
On Thursday, the investment firm Vaneck published a blog post that calculates how much gold or bitcoin would be worth if the two assets became global reserve assets. Vaneck’s report explained that the investment team “attempted to quantify the emergence of new gold or bitcoin-backed currency regimes.” The study’s calculations estimate that gold could reach … Read more
As Americans continue to deal with rising inflation, on Tuesday the spread between 2-year and 10-year Treasury yields inverted, signaling the U.S. economy may be headed for a recession. This week, a myriad of financial reports have noted that the U.S. dollar’s reserve currency status could be undermined. Moreover, there’s also the possibility of crude … Read more
As inflation continues to wreak havoc on American wallets, the U.S. dollar’s lack of purchasing power has been affecting nearly every U.S. resident’s spending decisions. On Monday, U.S. president Biden and his administration predicted lower inflation forecasts as officials announced Biden’s proposed budget for the 2023 fiscal year. According to marketwatch.com author Victor Reklaitis, the … Read more