White House Says Biden Has ‘Confidence’ in Fed Chair Powell While Fedwatch Tool Predicts a 25bps Hike This Week

With the Federal Open Market Committee convening on Wednesday and the recent financial troubles facing the U.S. banking system, White House press secretary Karine Jean-Pierre said President Joe Biden has “confidence” in Federal Reserve chair Jerome Powell. Meanwhile, according to the CME Group’s Fedwatch tool, the target rate probability suggests the Fed will raise the […]

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Economist David Rosenberg Warns of ‘Crash Landing’ and Recession, Citing Fed Data

Economist David Rosenberg Warns of Impending 'Crash Landing' and Recession, Citing Fed DataFamed economist David Rosenberg has warned of a “crash landing” and an impending recession for the U.S. economy. Referring to the Philadelphia Fed’s manufacturing index chart, he stressed: “Take a good hard look at this chart and tell me we are heading into a ‘soft’ or ‘no’ landing. More like a ‘crash’ landing.” Economist Expects […]

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US Senator Calls for Investigation Into Bank Failures — Says Fed Chair Powell ‘Bears Direct Responsibility’

US Senator Calls for Investigation Into Bank Failures — Says Fed Chair Powell 'Bears Direct Responsibility'U.S. Senator Elizabeth Warren has called for a “thorough, independent investigation of the causes” that led to the failure of Silicon Valley Bank (SVB) and Signature Bank. She alleges that Federal Reserve Chairman Jerome Powell “bears direct responsibility” for regulatory and supervisory issues involving the two banks. Senator Elizabeth Warren Calls for Independent Investigation Into […]

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Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’

Mike Novogratz Warns of Credit Crunch in US and GloballyGalaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit Crunch and Recession Galaxy Digital CEO Mike Novogratz shared his outlook for the U.S. […]

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Blackrock CEO Warns More Bank Seizures and Shutdowns Could Result From Regulatory Changes

The CEO of Blackrock, the world’s largest asset manager, has warned about additional bank seizures and shutdowns that could result from regulatory changes in response to the failures of several major banks in the U.S. “It does seem inevitable that some banks will now need to pull back on lending to shore up their balance […]

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Economist Peter Schiff Expects Worse Financial Crisis Than 2008 — Says ‘Future Rate Hikes Are Now Pointless’

Economist Peter Schiff Says This Financial Crisis Will Be Much Worse Than 2008 — 'Future Rate Hikes Are Now Pointless'Economist Peter Schiff has warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now pointless,” he stressed, adding that any effect will be more than offset by the Fed’s quantitative easing. Peter Schiff’s Financial Crisis Warning Economist and gold bug Peter Schiff shared his outlook for the U.S. […]

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Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Days

Balaji Srinivasan Says Hyperinflation Is Happening Now — Makes Million-Dollar Bet on Bitcoin Price Exceeding $1M in 90 DaysVenture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and […]

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Elon Musk Criticizes Federal Reserve’s Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos

Elon Musk Criticizes Federal Reserve's Data Latency and Calls for Immediate Rate Drop Amidst Banking ChaosAmidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their data,” and he insists that the central bank needs to drop the federal […]

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Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps

european central bank interest hikesThe European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if […]

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Argentina Registers 6.6% CPI in February; Inflation Numbers Blast Past 100% YoY for First Time Since the 90s

argentina inflation cpi recordThe National Institute of Statistics and Census of Argentina released February’s numbers for the consumer price index (CPI), registering an increase of 6.6%, a consequence of the rises in prices of food and beverages principally. The number is among the highest in the history of Argentina, reaching more than 100% growth year-on-year (YoY), something that […]

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