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Lebanon Inflation Rate Surges to 211%, Economist Steve Hanke Recommends a Currency Board

As political leaders in crisis-hit Lebanon bicker over positions in the yet-to-be-formed government, the country’s runaway inflation rate surged to 211% in May 2022, new data has shown. Economist Steve…

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Goldman Sachs Sees Higher US Recession Risk Citing Concerns the Fed Will ‘Respond Forcefully’ to High Inflation

Goldman Sachs’ economists now see an increased risk of a U.S. recession. “We are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and…

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Russian Ruble Taps 7-Year High Against the US Dollar — Economist Says ‘Don’t Ignore the Exchange Rate’

Recent news reports have detailed that Russia’s fiat currency, the ruble, was the best-performing currency worldwide and the articles explained that American economists were perplexed by the trend. On Monday,…

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Deutsche Bank Expects Sooner, More Severe US Recession as the Fed Takes ‘Aggressive Hiking Path’

Deutsche Bank has updated its recession forecast. The bank’s economists now see “an earlier and somewhat more severe recession” than previously predicted. “The Fed has undertaken a more aggressive hiking…

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President Biden Insists US Recession Is Not Inevitable — Treasury Secretary Yellen Concurs

President Joe Biden and Treasury Secretary Janet Yellen say that a U.S. recession is not inevitable, dismissing the concerns of many economists who have predicted an upcoming recession. In addition,…

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Cleveland Fed President Loretta Mester Is ‘Not Predicting a Recession,’ Says Inflation Will Move Down

Cleveland Federal Reserve Bank president Loretta Mester doesn’t think a recession will take place in the United States but believes it will take two years to get inflation back down…

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Russian Finance Ministry Rules Out Sale of Oil for Bitcoin

The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the department means…

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US Central Bank Hikes Benchmark Rate by 75 bps, Fed’s Largest Increase Since 1994

The U.S. Federal Reserve raised the federal funds rate by 75 basis points (bps) on Wednesday, and it was the largest increase since 1994. According to the Fed member’s expectations,…

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JPMorgan Economist Expects the Fed to Hike Benchmark Rate by 75 bps as Global Markets Bleed

The U.S. Federal Reserve is expected to raise the federal funds rate during its next meeting on Wednesday and JPMorgan economist Michael Feroli believes that rising inflation will push the…

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