The U.S. consumer price index (CPI) fell by 0.1% in June. The decline, primarily due to reduced gasoline prices, brought the annual inflation rate to its lowest in over three years. This news comes after U.S. President Joe Biden was accused of tapping into gasoline reserves ahead of the election to gain favor with voters.…
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In a recent editorial, economist Peter St Onge explores the potential of a hidden economic recession, suggesting that official figures might not reveal the full extent of the decline. St Onge raises concerns about the accuracy of U.S. inflation data and its implications for measuring true economic growth. Peter St Onge, Official Figures May Understate…
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According to the minutes from the Federal Reserve’s Federal Open Market Committee (FOMC), the choice to maintain the federal funds rate in its current range was driven by concerns about ongoing inflation and economic instability. Economic Instability and Inflation Keep Fed Rates Steady At the June 11-12 meeting, the FOMC highlighted that although inflation has…
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Javier Milei, the libertarian President of Argentina, has revealed the new policies that will be applied to cement the economic victories he has achieved in Argentina. In an interview, he stated that now, with the recent approval of the omnibus law, the country has reached phase two of its economic plan, which entails having zero…
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Argentina is reaping its first rewards in the fight against inflation, as a private consulting firm found that the inflation in food and beverages reached 0% during June’s third week. President Javier Milei celebrated this achievement, stating that his administration was rewriting economic theory and that he might receive the Nobel prize if successful. Javier…
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Former Boston Fed President Eric Rosengren has outlined the potential for two interest rate cuts this year. He cited recent Federal Open Market Committee (FOMC) discussions and stabilizing inflation trends. “I am expecting we’ll probably get some more favorable inflation numbers over the next couple of months,” he opined. ‘I Don’t Think We’re Down to…
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Republican Senator Mike Lee from Utah has introduced legislation to abolish the U.S. central bank and its Board of Governors. Lee contends that the U.S. Federal Reserve has “repeatedly failed” the American public and argues for its dissolution. Federal Reserve Targeted for Abolition by Senator Mike Lee Following the lead of House Representative Thomas Massie…
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While many are familiar with inflation, which indicates a decline in currency purchasing power alongside a general rise in the cost of goods and services in an economy, there is a common misconception that inflation is natural. In reality, it is largely driven by an increased money supply, manipulation of interest rates, and quantitative easing…
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Bitcoin prices are hovering near $70,000, bouncing from a critical dynamic support line, evident in the daily chart. Even though bulls have yet to breach $72,000 and break above March 2024 highs, traders are optimistic about what lies ahead. Bitcoin Bulls In Charge: Analyst Targets $85,000 Taking to X, one analyst believes the world’s most…
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The Grayscale-Harris Poll survey, conducted in April-May 2024, reveals crucial insights into American likely voters’ views on cryptocurrency and its potential impact on the upcoming presidential election. The survey, involving over 2,000 adults, highlights key trends such as high interest in crypto among young, minority, male, and Democratic voters. Significant findings include 97% of likely…
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