The central bank digital currency (CBDC), or digital dollar, would not be anonymous, according to Federal Reserve Chairman Jerome Powell, thereby eliminating one of the main advantages of using cryptocurrencies. If the Fed were to pursue such an option, said Powell, there would be four minimum CBDC characteristics. The first would be intermediaries—it wouldn’t be…
The Digital Dollar Will Not Be ‘Anonymous,’ Says Fed Chair Powell
September 28, 2022
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Business & MarketsCBDCChristine Lagardecryptocurrencydigital dollardigital euroECBeconomic policieseconomyFederal Reservejerome powellMarketsUS
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Capitol Report (Sept. 23): House GOP Outlines Vision Before Midterms; Biden Makes Election Promises in DNC Speech
September 23, 2022
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Capitol ReportChinademocratic national committeeEpochTVFederal ReserveFentanyl Crisisjerome powellJoe BidenKevin McCarthyMidtermsNew York CityOne China PolicyRep. Tony GonzalesU.S. economyUSUS News
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House Republicans showcased their “Commitment to America” plan—their promise to the people in the run-up to the midterms. We’ll hear from the House Republican leader himself to find out more about the GOP’s plan for a “new direction.” President Joe Biden pushed back against the Republicans’ proposed agenda Friday, attending an event by the Democratic…
Powell Says No ‘Painless’ Way to Tame Inflation, Vows to Crush Demand, Dent Job Market
Federal Reserve Chair Jerome Powell sent a stark message to markets following the decision to hike rates by another 75 basis points, with the central bank chief telling reporters that there’s no “painless” way to bring down inflation and warning there could be more than just a “relatively modest” rise in unemployment as the Fed…
Powell Contradicts Biden on Inflation: ‘Running Too High’ Rather Than ‘Hardly at All’
In his much-anticipated remarks on the economy following the Fed’s policy meeting that saw another jumbo interest rate hike to tame soaring prices, Federal Reserve Chair Jerome Powell said inflation was “running too high,” contradicting President Joe Biden’s recent assertion that prices had risen “just an inch, hardly at all.” Powell’s press conference on Sept….
LIVE 2:30 PM ET: Fed Chair Jerome Powell Holds News Conference
September 21, 2022
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The Federal Reserve holds a news conference on the day that it is expected to announce that it is speeding up the end of its pandemic-era bond purchases and signal a turn to interest rate increases next year as a guard against surging inflation. * Click the “Save” button below the video to access it…
US Weekly Jobless Claims Fall to a Three-Month Low
September 9, 2022
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Business & Marketseconomic policieseconomyFederal Reserveinflationinterest ratesjerome powelljobless claimspersonal financerecessionunemploymentUS
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The amount of Americans filing for unemployment claims decreased, for the first time, last week, to a three-month low, according to the Labor Department on Sept. 8. The continued growth in the U.S. labor market is relief for some analysts after U.S. gross domestic product (GDP) contracted in the first half of 2022, after initial fears…
US Corporate Bankruptcies Are Creeping Up: S&P Global Data
U.S. corporate bankruptcy filings rose in August, according to new data from S&P Global Market Intelligence. The S&P Bankruptcy Tracker found that there were 38 filings last month, up from 31 in July. However, despite the increase, there have been just 249 businesses that have filed for bankruptcy this year, which is the lowest…
New Report Says That the Fed May Require 7.5 Percent Unemployment to Lower Inflation
September 9, 2022
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The U.S. unemployment rate may need to rise almost twice its current level in order to control high inflation, according to a team of researchers from the International Monetary Fund (IMF). The paper, co-authored by IMF economists Daniel Leigh and Prachi Mishra, said that the jobless rate would have to grow from 3.7 percent at…
Fed Chairman Powell Says Inflation Can Be Controlled Without ‘Very High Social Costs’
Federal Reserve Chairman Jerome Powell, said on Sept. 8, that the central bank remains “strongly committed” to fighting inflation, but he still believes it can be tamed without the “very high social costs” as in past attempts to control prices. Powell was interviewed in a 40-minute webcast by Cato Institute President Peter Goettler, as the…
Collateral Chains Are the Real Tightening
September 8, 2022
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Commentary It was barely a month ago when OPEC+, the group of major oil-exporting nations, had announced a small increase in production. The world economy was suffering under extreme oil price pressure. President Joe Biden traveled to Saudi Arabia, one of OPEC’s largest producing members, to personally deliver his plea for relief on behalf of…
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