Fed's Waller Confirms: U.S. Dollar to Retain Its Global Reserve Currency StatusFederal Reserve Governor Christopher Waller emphasized the U.S. dollar will remain the world’s reserve currency, despite speculation about its potential decline. In his address at a conference, Waller acknowledged various factors that could threaten the dollar’s status, including sanctions against Russia, U.S. political challenges, the emergence of digital assets, and China’s promotion of the renminbi. […] READ MORE High Inflation Drives Mortgage Rates Above 7%This week saw a significant increase in mortgage rates, pushing past the 7% threshold and dampening the enthusiasm of potential homebuyers. The rise in rates comes amid persistent high inflation, challenging the previously held optimism for a Federal Reserve rate cut in time for the spring buying season. Specifically, the average rate for a 30-year […] READ MORE Remote Work Could Cost Boston $1 Billion in TaxesBoston is facing a significant challenge as the city anticipates a tax revenue shortfall exceeding $1 billion in the next five years due to the depreciating office real estate market. This forecast stems from a collaborative analysis by Tufts University’s Center for State Policy Analysis and the Boston Policy Institute, drawing on a McKinsey & […] READ MORE Cryptocurrency Market Climbs Over $2 Trillion, Led by BitcoinThe cryptocurrency market has seen a significant resurgence, with its total value surging back above the $2 trillion mark. This rally was led by Bitcoin, which is currently trading around $52,000, and Ether, which has recovered to its value prior to the TerraUSD stablecoin collapse nearly two years ago. Bitcoin’s impressive year-to-date gain of almost […] READ MORE Central Bank of Ireland Bolsters Economic Security by Doubling Gold Reservesthe Central Bank of Ireland notably doubled its gold reserves in 2022, expanding its holdings from six to twelve metric tonnes. This strategic decision, articulated by then Finance Minister Pascal Donohoe, was aimed at diversifying the bank’s long-term investment approach to enhance the resilience of its balance sheet. This move underscores the role of gold […] READ MORE Druckenmiller Makes Bet on Gold MinersStanley Druckenmiller’s Duquesne Family Office has made significant adjustments to its portfolio, as revealed in a recent SEC filing. Druckenmiller’s firm divested its holdings in tech giants Alphabet Inc., Amazon.com, and Broadcom Inc., while making a notable pivot towards the precious metals sector, Duquesne has invested in gold mining companies Barrick Gold Corp. and Newmont […] READ MORE Consumer Confidence Dips: Retail Sales See Unexpected Decline in JanuaryIn January, retail sales experienced a significant decline of 0.8%, indicating a potential warning signal for the economy. This drop, reported by the Commerce Department, surpassed the modest 0.3% decrease economists had predicted, reflecting a more substantial consumer pullback than anticipated. Despite seasonal adjustments, the decrease was even evident when excluding auto sales, which fell […] READ MORE Fed Vice Chair Warns of Challenges on Road to Inflation TargetFederal Reserve Vice Chair for Supervision Michael Barr commented on the economic challenges ahead, noting the U.S.’s path back to 2% inflation “may be a bumpy one.” Despite a year-on-year consumer price increase of 3.1% and a core inflation rate holding steady at 3.9%, largely propelled by rising shelter costs, Barr expressed a cautious optimism. […] READ MORE Japan Sounds the Alarm on Yen's Speculative Tumble Amidst Rising U.S. InflationJapan’s financial leaders have raised concerns over the swift and speculative decline of the yen, which recently crossed the 150 mark against the dollar, posing risks to its trade-dependent economy. This warning came as the dollar reached a three-month high against the yen following U.S. inflation data for January, which exceeded expectations and bolstered the […] READ MORE « Previous 1 … 37 38 39 40 41 … 64 Next »
