Report: Lebanese Pound Exchange Rate Against Dollar Plunges to All-Time Low
After relative calm for a few months, the Lebanese pound has plunged to an all-time low of 35,600 per dollar, a report has said. The currency’s latest slide is expected…
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The Fed’s Christopher Waller Wants 50 bps Rate Hikes Until Inflation Subsides, US Savings Data Plummets
Federal Reserve governor Christopher Waller has detailed he is ready to get behind 50 bps rate hikes until the extreme inflationary pressures plaguing the U.S. economy subsides. Waller stressed that…
‘Big Short’ Investor Michael Burry Warns of Looming Consumer Recession, More Earnings Trouble
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of a looming consumer recession and more earnings trouble. He cited falling U.S. personal savings and…
Recession or Prolonged Inflation: The Fed Must Decide Between Two Policy Mistakes, Says Economist
Allianz Chief Economic Advisor Mohamed El-Erian says the Federal Reserve will have to “decide between two policy mistakes.” One risks triggering a recession and the other could prolong inflation well…
Elon Musk: We’re Approaching a Recession but It’s ‘Actually a Good Thing’
Tesla CEO Elon Musk believes the U.S. economy is approaching a recession but he explained why it is “actually a good thing.” Musk has estimated that the upcoming recession will…
After Defaulting Sri Lanka Plans to Print $2.8 Billion Worth of Rupees, Inflation Rate Expected to Top 40%
The government in crisis-stricken Sri Lanka has said it will print more money and cut spending on infrastructure as part of an attempt to pacify the restive population. The government,…
Billionaire Investor Bill Ackman Says Unless the Fed Aggressively Hikes Rates, Stock Market Could Crash, ‘Catalyzing an Economic Collapse’
Billionaire hedge fund manager and founder of Pershing Square Capital Management, Bill Ackman, believes “inflation is out of control.” The investor thinks that if the Federal Reserve “doesn’t do its…
Prepare for Recession: Musk and Goldman Sachs’ Blankfein Weigh In; Galaxy Digital’s CEO Talks on Terra Collapse — Bitcoin.com News Week in Review
This week, both Goldman Sachs’ Lloyd Blankfein and Tesla boss Elon Musk weighed in on the issue of an impending recession in the U.S., issuing sobering estimations. In the wake…
Report: BRICS Countries Told to Consider Countering the Dollar’s Global Hegemony
Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still,…
Survey Shows 87% of Americans Are Stressed About Inflation and Rising Costs of Everyday Goods
As the consumer price index (CPI), a measure of prices for goods and services, hit another all-time high in April reaching 8.3%, Americans are stressed out more than ever about…
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