Economy

The Crypto Correction Shows the Market is Working

The Crypto Correction Shows the Market is Working

Text size Crypto regulation must address the real issues of money laundering, sanction evasion, terrorist financing and other criminal behavior, as well as the implications of this new technology for the traditional monopoly of nation states on monetary policy. The time of dreams About the authors: JAmil N. Jaffer is the founder and executive director …

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Pound drops below $1.09 for first time since 1985 after mini budget

The pound fell below $1.09 on Friday for the first time since 1985 as investors spooked at the prospect of increased government borrowing to pay for the sweeping tax cuts in the Kwasi Kwarteng mini-budget. Delivering a punitive verdict on the Chancellor’s ‘race for growth’, traders sent the pound plummeting on Friday in a sell-off …

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4 ways House Republicans want to reshape the US economy in 2023

4 ways House Republicans want to reshape the US economy in 2023

This week’s rollout of House Republicans’ “Pledge to America” ​​intentionally echoed its famous predecessor, the 1994 “Contract with America.” At the time, Newt Gingrich, who would become Speaker of the House, stood with fellow Republicans and presented his pledges on September 27, 1994. While Gingrich’s proposal included a 196-page book outlining 10 plans for specific …

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56% of Americans think the United States is already in a recession.  These 4 steps can help protect your finances in a downturn

56% of Americans think the United States is already in a recession. These 4 steps can help protect your finances in a downturn

It’s very easy to get swayed by headlines and market declines when you don’t know exactly what you’re working on. Amanda Wallace Head of Insurance Operations at MassMutual Meanwhile, a majority of Americans – 80% – are already worried about the impact a recession could have on their day-to-day finances, according to the MassMutual poll. …

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Billionaire investor Bill Ackman has the cure for high inflation: a massive wave of Russian immigration

Billionaire investor Bill Ackman has the cure for high inflation: a massive wave of Russian immigration

The Federal Reserve aggressively raised interest rates in hopes of cooling the economy and bringing inflation under control, which remained near a 40-year high in August at 8.3%. Their aim is to reduce demand and slow wage growth so that high consumer prices do not become “entrenched”. But senior officials noted this week that it …

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Celsius has a Hail Mary bankruptcy plan: turn its debt into a new cryptocurrency

Celsius has a Hail Mary bankruptcy plan: turn its debt into a new cryptocurrency

Ever since bankrupt crypto lender Celsius froze withdrawals in June, customer funds have been in limbo. Now, a leaked audio shared with CNBC reveals a preliminary plan to compensate them. The company wants to issue an “IOU” cryptocurrency to customers who have signed up for some of its accounts. The recording was provided by Tiffany …

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Americans lost $4.2,000 in income under Biden, study finds

Americans lost $4.2,000 in income under Biden, study finds

The average American has lost $4,200 in annual income since President Biden took office, entirely wiping out gains made under the Trump administration, according to an analysis by the Heritage Foundation. The losses were driven by soaring inflation and rising interest rates, experts at the conservative think tank said in a report on Thursday. Their …

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From the Fed to the currency crisis in Europe, here's what's behind this massive sell-off in financial markets

From the Fed to the currency crisis in Europe, here’s what’s behind this massive sell-off in financial markets

Trader on the floor of the NYSE, June 7, 2022. Source: NYSE Stocks fell sharply, bond yields rose and the dollar strengthened on Friday as investors heeded the Federal Reserve’s signal that its battle with inflation could lead to much higher interest rates and a recession. Friday’s selloff was global, in a week the Fed …

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Lacy Hunt and Danielle DiMartino Booth on Liquidity and the Issues Facing the Fed

Lacy Hunt and Danielle DiMartino Booth on Liquidity and the Issues Facing the Fed

Danielle DiMartino Stand 1 on 1 with Lacy Hunt Please consider Danielle DiMartino Booth 1-on-1 with Lacy Hunt The pair discusses liquidity, velocity, the Fed’s PUT, QT, who inflation hurts the most, which stock sectors are hurting the most, who inflation is hurting the most, and when recession hits. Booth noted that house prices were …

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