The British government has set out plans for how post-Brexit border checks will work, which have been repeatedly delayed since the UK officially withdrew from the bloc more than two years ago. Britain left the EU’s single market in January 2021, but the government has delayed full implementation of border controls on multiple occasions because…
Central Bank Digital Currencies a Foundational Threat to America’s Economic Systems: Analysis
April 5, 2023
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Business & MarketsCentral Bankdigital currencyeconomic policieseconomyPolicies & ImpactsTechTech NewsUS
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Central bank digital currencies (CBDCs) pose a foundational threat to America’s economic systems with absolutely no upsides, according to a recent analysis from the Cato Institute, which stressed that a U.S. CBDC will threaten citizens’ “core freedoms” from financial privacy to personal liberty. Even though there are no valid reasons for the U.S. government to…
Central Bank Digital Currencies a Foundational Threat to America’s Economic Systems: Think Tank
April 5, 2023
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Business & MarketsCentral Bankdigital currencyeconomic policieseconomyPolicies & ImpactsTechTech NewsUS
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Central bank digital currencies (CBDCs) pose a foundational threat to America’s economic systems with absolutely no upsides, according to a recent analysis from the Cato Institute, which stressed that a U.S. CBDC will threaten citizens’ “core freedoms” from financial privacy to personal liberty. Even though there are no valid reasons for the U.S. government to…
Fed’s Mester Says Rate Target Will Need to Go Over 5 Percent
Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday that the U.S. central bank likely has more interest rate rises ahead amid signs the recent banking sector troubles have been contained. To keep inflation on a sustained downward path to 2 percent and keep inflation expectations anchored, Mester said she sees monetary policy…
Dollar Mired Near 2-month Low After Jobs Jolt; RBNZ Boosts Kiwi
LONDON—The dollar wallowed near two-month lows on Wednesday after weak data supported the view that the Federal Reserve may not need to raise rates much further, while the New Zealand dollar hit two-month highs after a larger-than expected rate hike. With the all-important U.S. monthly employment report just two days away, activity across the market…
Oil Prices Stable as Economic Fears Balance OPEC+ Cuts
April 5, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were stable on Wednesday, as the market weighed gloomy economic prospects against expectations of U.S. crude inventory declines and OPEC’s voluntary output cuts announcement. Brent crude futures gained 22 cents, or 0.26 percent, to $85.16 a barrel by 0747 GMT. West Texas Intermediate U.S. crude was up 12 cents, or 0.15 percent, to…
Stocks Falter as Economic Worries Nag, Big Rate Hike Lifts Kiwi Dollar
April 5, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stock markets stumbled on Wednesday as signs that the economic outlook is weakening spurred caution, while a bigger-than-expected interest-rate hike from New Zealand lifted the kiwi dollar. European stocks fell with the broad STOXX 600 index pulling away from Tuesday’s one-month highs. U.S. equity futures dipped and Japan’s Nikkei fell 1.6 percent in its…
Job Openings Fall to Lowest Level in Nearly 2 Years in February
U.S. job openings, a measure of labor demand, dropped to their lowest level in nearly two years in February, a potential sign that tight labor market conditions are finally easing. This could be good news for the Federal Reserve’s aggressive interest rate policy, as it considers whether to pause its cycle of rate hikes. However,…
Social Security Cuts Maybe Be Coming Soon: Here’s Who Will Be Affected
A new report indicates that the Social Security program is expected to run out of money by 2033 due to slower-than-predicted economic growth. A Social Security and Medicare Trustees report released March 31 found the entitlement program could face insolvency a year earlier than previously reported, in part, due to a revision of gross domestic…
Social Security Cuts May Be Coming Soon: Here’s Who Will Be Affected
A new report indicates that the Social Security program is expected to run out of money by 2033 due to slower-than-predicted economic growth. A Social Security and Medicare Trustees report released March 31 found the entitlement program could face insolvency a year earlier than previously reported, in part, due to a revision of gross domestic…
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