The numbers show the US economy is at least teetering on a recession

The numbers show the US economy is at least teetering on a recession

Foreman Angel Gonzalez and Anthony Harris, with EZ Bel Construction, work on pipes along Fredericksburg Road during an excessive heat warning in San Antonio, Texas, July 19, 2022. Lisa Krantz | Reuters The White House is sure the economy is not in a recession nor headed for one. Wall Street is pretty sure there is … Read more

Biden’s inflator in chief Brian Deese is an awful pick

Biden’s inflator in chief Brian Deese is an awful pick

There might be worse choices to lead President Joe Biden’s fight against inflation – Vice President Kamala Harris immediately comes to mind. But the role of Brian Deese in Biden’s new and belated “laser focus” on inflation is more proof that Sleepy Joe either doesn’t have a clue about policy, or isn’t serious about one … Read more

GOP wants Janet Yellen gone after inflation failure admission

GOP wants Janet Yellen gone after inflation failure admission

Conservative lawmakers and commentators have called for Treasury Secretary Janet Yellen to be fired or resigned after she admitted in an interview Tuesday evening that she was “wrong… about the path that inflation would take” – as annual price increases reach levels not seen in 40 years . During a sitdown with CNN’s Wolf Blitzer, … Read more

Opinion: Snap out of it already! Cryptocurrencies like bitcoin are not hedges against inflation

Opinion: Snap out of it already!  Cryptocurrencies like bitcoin are not hedges against inflation

Pity the fools who still believe that bitcoin and other cryptocurrencies will prove to be trusty hedges against inflation. Sadly, those people are still out there, clinging to vain hope, despite all evidence to the contrary. Various digital currencies have been spiralling downward as inflation rates in many countries hit highs not seen in decades. … Read more

Worry about stagflation, a flashback to ’70s, begins to grow

Worry about stagflation, a flashback to ’70s, begins to grow

WASHINGTON (AP) – Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: High inflation mixes with a weak job market … Read more

5 things to know before the stock market opens Monday, May 23

5 things to know before the stock market opens Monday, May 23

Here are the most important news, trends and analysis that investors need to start their trading day: 1. S&P 500 set to open higher after narrowly avoiding a bear market close Traders on the NYSE, May 20, 2022. Source: NYSE Dow futures rose 350 points Monday after the 30-stock average logged its first eight-week losing … Read more

Tether claims USDT stablecoin is backed by non-US bonds

Tether claims USDT stablecoin is backed by non-US bonds

Tether previously claimed its stablecoin was backed 1-to-1 by US dollars. Justin Tallis | Afp | Getty Images The issuer of the stablecoin tether said in a report that the controversial digital currency is now backed in part by “non-US” government bonds. Stablecoins are a type of cryptocurrency pegged to the value of sovereign currencies … Read more

Crypto industry wields its influence in Washington after pouring over $ 30 million into campaigns

Crypto industry wields its influence in Washington after pouring over $ 30 million into campaigns

Jtsorrell | Istock | Getty Images US Rep. Ritchie Torres, DN.Y., called on New Yorkers to support the cryptocurrency market in a March op-ed in the New York Daily News titled, “A liberal case for cryptocurrency.” “With a multi-billion dollar market capitalization, crypto is here to stay. It’s not going anywhere. New York City should … Read more

Bitcoin Tumbles In Wild Week For Cryptocurrency

Bitcoin Tumbles In Wild Week For Cryptocurrency

NEW YORK (AP) – It’s been a wild week in crypto, even by crypto standards. Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry’s highest-profile companies lost a third of its market value. Here’s a look at some major developments in cryptocurrencies this week: The price of bitcoin dropped to around … Read more