Powell Maintains Cautious Approach Federal Reserve Chairman Jerome Powell recently spoke at Spelman College. He stressed the Fed’s focus on fighting inflation. He recognized that current monetary policies are strict. Yet, Powell warned that the fight against high prices isn’t over. He said it’s too soon to think about relaxing these policies. Powell emphasized the […]

The U.S. economy showed remarkable strength in the third quarter of 2023. Its Gross Domestic Product (GDP) grew at an impressive 5.2% annualized rate. The Commerce Department revised this figure up from an initial estimate of 4.9%. This rate is the fastest since late 2021. Increases in nonresidential fixed investment and strong government spending mainly […]

Tether Gold (XAUt) offers several benefits by combining the stability of gold with the flexibility of digital tokens. Introduction to Tether Gold Tether Gold is a digital token representing physical gold. Historically, gold has been a trusted store of value, used as money and a protective hedge during economic uncertainties. XAUt brings gold into the […]

In the intricate world of finance, the Federal Reserve’s decisions are akin to the heartbeat of the global economy. Every beat, every pause, and every acceleration can send ripples across markets worldwide. The minutes from the Federal Reserve’s July 25-26 meeting have been the talk of Wall Street, with stakeholders keenly dissecting every word for […]

In an unexpected turn of events, Canada’s inflation rate has taken a nosedive to 2.8%, marking the lowest level since the early months of 2021. This significant decrease, which caught financial analysts off guard, is primarily attributed to a sharp decline in gasoline prices and a drop in telecommunications services costs. The Gasoline Effect Gasoline […]

The U.S. Bureau of Labor Statistics‘ report unveiled that the annual inflation rate in the United States fell to 3% in June 2023. This marks the 12th consecutive month of declines, rendering it the lowest figure since March 2021. This downward trend is partially attributed to a substantial base effect from the previous year, when […]

Inflation has been out of control in Argentina despite governmental measures. Interest Rate Hike The Argentina Central Bank has taken decisive action to address the country’s soaring inflation. In an effort to combat this economic challenge, the bank has decided to raise interest rates to an unprecedented 97%. This move comes amidst economic uncertainty and […]

US inflation finally fell below 5% for the first time in two years. In April, the rate reached 4.9%, remaining high but showing a significant decrease since the 40-year high of 9.1% in June last year. This is the tenth consecutive month that the inflation rate has declined. Lower Prices for Goods and Services Milk, […]

Zimbabwe is planning to launch a gold-backed digital currency to stabilize its local unit from depreciation against the US dollar. Zimbabwe’s Digital Currency Launch Zimbabwe’s digital currency launch aims to stabilize the local unit and prevent it from depreciating against the US dollar. The move will allow users holding small amounts of Zimbabwe dollars to […]

The Fed continues its fight with inflation, another interest rate hike might be around the corner. Interest Rates Need to Go Higher Federal Reserve Bank of Cleveland President, Loretta Mester, has called for an interest rate hike to tackle inflation. She believes that the benchmark rate should go above 5% this year and remain there […]

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Saudi Arabia, announced on Sunday that they would cut oil production by 1.15 million barrels per day (bpd) until the end of 2023. This move took analysts by surprise as they expected an increase in production due to the improving global demand […]