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Retailers’ overflowing inventories will lead to slower inflation, spurring the Federal Reserve to reverse course on interest rates and cease shrinking its balance sheet, Michael Burry predicted in a tweet on Monday. “This supply glut at retail is the Bullwhip Effect,” he wrote. “Deflationary pulses from this- -> disinflation in CPI later this year –>… Continue reading ‘Big Short’ investor Michael Burry predicts inflation will slow later this year — and the Fed will reverse course and cut interest rates

Cryptocurrency exchange CoinFlex announced that it would issue up to $47 million of recovery tokens as the firm looks to resume withdrawals after halting them in the wake of a large account running into difficulties.  The exchange halted customer withdrawals in mid-June, revealing in a whitepaper yesterday that the issue stemmed from a high profile customer… Continue reading Crypto exchange CoinFlex will issue $47 million worth of recovery tokens after halting customer withdrawals

Central banks should try to minimize an economic downturn if possible, but must prioritize taming inflation above any other goal, the Bank for International Settlements has urged. If they don’t bring inflation under control, they run the risk that the current sky-high rates of price rises become entrenched, according to strategists at BIS, which coordinates… Continue reading Central banks must prioritize inflation over recession in a ‘historically unprecedented’ situation, BIS urges

Exxon Mobil’s CEO thinks oil prices have room to climb higher before they push companies to invest more on increased production.  Brent crude rose 1.2% to $116.42 a barrel on Tuesday and has soared nearly 50% so far this year amid resurgent demand, limited growth in output, and Russia’s war on Ukraine. “They always say… Continue reading Exxon Mobil CEO sees oil climbing further: ‘They always say that the cure to high prices is high prices’