St. Louis Fed President James Bullard told the Financial Times raising interest rates to a neutral level won’t be enough to curb high inflation. Bullard said the Fed needs to go well beyond a neutral rate, which is estimated at around 2.4%. Bullard in March voted for a rate hike of 50 basis points while… Continue reading The Fed is going to have to curb economic activity to bring down soaring inflation, Fed’s James Bullard says
Russia will hunt for new oil and gas buyers as some markets self-sanction, Putin says
President Putin told Russian officials that the country will seek new markets for its oil and gas. Some customers have stopped or slowed energy imports from Russia since the Ukraine war began. Since invading Ukraine, Russia has redirected much of its oil exports to Asia. Loading Something is loading. Russia is on the lookout for… Continue reading Russia will hunt for new oil and gas buyers as some markets self-sanction, Putin says
While the US explores digital currencies, China’s eYuan is already in 15 cities. But experts say Beijing and Washington aren’t actually competing in the same race.
China rolled out its digital yuan to its 15th city this month, while the US has only just started to explore a digital dollar. But some experts say that the dollar’s global dominance means the spread of a digital yuan won’t give China a leg up. Experts broke down why the world’s two biggest economies… Continue reading While the US explores digital currencies, China’s eYuan is already in 15 cities. But experts say Beijing and Washington aren’t actually competing in the same race.
Uranium prices have spiked 50% this year and are set to climb further on stockpiling and risk of bans on Russia exports, Bank of America says
Uranium prices have soared 50% this year and look set to climb even more, Bank of America said Tuesday. The risk of bans on Russian uranium imports by Western countries is contributing to driving up prices. The investment bank raised its uranium price estimates for 2022 through 2027 by 20% on average. Loading Something is… Continue reading Uranium prices have spiked 50% this year and are set to climb further on stockpiling and risk of bans on Russia exports, Bank of America says
Lumber falls to fresh 2022 lows as spike in mortgage rates cools housing demand and inflation puts dent in home renovations
Lumber prices fell to fresh 2022 lows on Tuesday as rising interest rates and inflation cool down the housing market.Mortgage rates for the popular 30-year fixed remain above 5%, which has led to a slowdown in mortgage applications.Rising inflation put a dent in the home improvement market, weakening demand for lumber. Loading Something is loading.… Continue reading Lumber falls to fresh 2022 lows as spike in mortgage rates cools housing demand and inflation puts dent in home renovations
Almost 75% of financial advisors surveyed say a spot crypto ETF would make them likely to invest clients’ money in digital assets
A Nasdaq survey shows 72% of financial advisors would support a spot crypto ETF product in the US. The majority of respondents in the March survey said they would be more likely to invest in digital assets if such an ETF were available. The SEC hasn’t approved a spot bitcoin ETF but has approved several… Continue reading Almost 75% of financial advisors surveyed say a spot crypto ETF would make them likely to invest clients’ money in digital assets
Warren Buffett struck his $12 billion Alleghany deal in under 2 weeks — showcasing his way of doing business
Warren Buffett struck his $12 billion deal to acquire Alleghany within two weeks. The Berkshire Hathaway CEO made his offer over dinner with Alleghany’s CEO in March. The terms of Buffett’s offer show his love of fast and simple deals, and his dislike of middlemen. Loading Something is loading. Warren Buffett pulled together Berkshire Hathaway’s… Continue reading Warren Buffett struck his $12 billion Alleghany deal in under 2 weeks — showcasing his way of doing business
One of the euro’s founding fathers says the ECB is ‘living in a fantasy’ by getting tough enough on inflation
Otmar Issing said the European Central Bank’s slow response to inflation posed a risk to growth, in an interview with the FT. One of the euro’s founding fathers, he said the ECB had “lived in a fantasy” and downplayed the risk of rising prices. Inflation has surged to record highs in the eurozone, but the… Continue reading One of the euro’s founding fathers says the ECB is ‘living in a fantasy’ by getting tough enough on inflation
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