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US stocks plunged on Friday with the Dow notching its fourth straight losing week as investors brace for swift interest rate hikes.”I would say 50 basis points will be on the table for the May meeting,” Fed chief Jerome Powell said at an IMF debate on Thursday.While the Fed attempts to tame inflation, first-quarter results… Continue reading Dow Jones plunges nearly 1,000 points and notches the fourth-straight losing week lower as investors brace for swift interest rate hikes from the Fed

Now is the time to buy stocks as inflation begins to roll over, according to James Paulsen of The Leuthold Group.He cited the decline in freight rates, steadying wage inflation, and sideways commodity prices since March as reasons to believe inflation may have peaked.”We think a decline [in CPI] to under 6% (and perhaps closer… Continue reading History says now is the time to buy stocks with inflation past its peak, according to a Wall Street chief strategist

The US dollar’s share of global currency reserves has dipped to its lowest level on record, JPMorgan analysts found.  The decline has accelerated in recent years, while China’s yuan accounts for a greater share of reserves. Sanctions against Russia could exacerbate the trend of diversified currency holdings, JPMorgan said. Loading Something is loading. The US… Continue reading The dollar’s reserve status has taken a hit in recent years, while China’s yuan has seen its share rise, JPMorgan finds

Crypto exchange Binance has recovered about $6 million stolen in March from Axie Infinity’s Ronin Network. Binance CEO Changpeng Zhao said part of the funds from the Axie hack made it into 86 accounts.  The FBI said a North Korean-backed group was behind the $620 million crypto heist.  Loading Something is loading. Binance, the world’s… Continue reading Binance CEO says the crypto exchange seized $5.8 million from a North Korean network behind a recent $620 million Axie Infinity hack

Ukraine’s central bank said Friday it would ban bitcoin purchases made with the hyrvnia. Citizens can still make purchases with foreign currencies with a monthly limit of $3,300. The National Bank of Ukraine labeled bitcoin purchases as “quasi-cash transactions.” Loading Something is loading. Ukraine announced limits on bitcoin purchases Friday to protect against capital flight… Continue reading Ukraine’s central bank is banning bitcoin purchases made with the hyrvnia to prevent capital from fleeing the war-ravaged country