Data: Federal Reserve; Chart: Axios Visuals If you took out a mortgage over the last couple of years, there’s a good chance the holder of that loan is America’s central bank — a consequence of its monetary stimulus efforts throughout the pandemic. Why it matters: The Fed will face a series of political and…
Category: Economy
The Bank of England can’t save people from this cost of living crisis – that’s Boris Johnson’s job | Sahil Dutta
In the 25 years since the Bank of England was made independent, politicians have happily played along with the idea that they have no place in monetary management. Yet with inflation now reaching 9% – levels last seen 40 years ago – that claim has broken. Instead, senior Conservative MPs scolded the Bank for letting…
Summer electric bill shocker coming
Harvard University economics professor Kenneth Rogoff argues that once the Fed raises interest rates, it may be difficult to ‘control’ the economy. Summer is right around the corner, which means jamming up those air conditioning units. However, with the cost of energy rising, cooling down the house in the midst of the sweltering summer heat…
Iraq balks at greater Chinese control of its oilfields
Iraq persuaded Lukoil to halt sale to Sinopec – sources Baghdad concerned China becoming too dominant – sources Western firms not happy with terms of Iraqi deals LONDON/BASRA, May 17 (Reuters) – Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to…
the World’s Top 2 Currencies Are Nearing Parity
The dollar and euro are on the verge of being equal for the first time since 2002. A top economist told Insider that parity could be reached within “a month or so.” The euro has lost nearly 14% against the dollar in the past year and is far below its March 2008 peak of roughly…
Stablecoins were supposed to be ‘stable.’ Then the crash came
On Twitter and Reddit, stunned Luna and TerraUSD investors tried to take stock of their losses after the cryptocurrencies’ dramatic collapses last week. The two cryptos took a beating as Terra — a supposed “stablecoin” that was meant to retain a $1 price point — lost its peg, and the connected Luna crypto dropped 99%…
Saudi Arabia’s Public Investment Fund Now Owns 5% Of Nintendo
picture: Nintendo Saudi Arabia’s Public Investment Fund, a near-bottomless pit of cash tasked with diversifying the nation’s economy (and whitewashing their human rights record), has acquired a 5.01% stake in Nintendo. The news was announced in a filing made with Japan’s Finance Ministry, Bloomberg reports. It follows similar investments made last year in Capcom, EA,…
Thinking about selling your home? This may be the time
Home prices are at record highs and still rising, but there are some early indications that the market may be starting to cool. For sellers looking to get top dollar for their home, the time to sell is now. But homeowners are still holding back from listing their homes, said Jeff Tucker, senior economist at…
Crude Oil Price Forecast – Crude Oil Markets Continue the Upward Momentum
WTI Crude Oil Technical Analysis The West Texas Intermediate Crude Oil market rallied again during the trading session on Tuesday as we continue to see a lot of upward momentum in the energy markets overall. The crude oil markets have just broken out of a major triangle, and therefore it looks like the sellers are…
China cuts shipments to Russia of smartphones, laptops and other tech
Placeholder while article actions load Chinese technology exports to Russia plummeted in March after US-led sanctions took effect, US Commerce Secretary Gina Raimondo said Tuesday, calling it a sign of Beijing’s wariness about violating the trade prohibitions. Chinese shipments of laptops to Russia fell by 40 percent in March compared with February, while exports of…