Good morning. Yesterday I scolded the market for being too enthusiastic about the Fed chair’s comments. Today stocks went up more. It’s almost as if people aren’t listening to me. This is hard on my ego, so email me: robert.armstrong@ft.com. Recession The US economy shrank for the second quarter in a row — on an
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The International Monetary Fund is predicting that Latin America (Latam) will keep growing this year, reaching a growth rate of 3% even with all of the difficulties that the region is facing. The institution believes that the economic recovery that Latam is enjoying after the Covid-19 pandemic will be decelerated by several factors, including the
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Investors were desperate for the slightest sliver of good news from Jay Powell, and it shows. Fund managers were pretty sure that the US Federal Reserve would raise interest rates this week at an increment that just a few months ago would have brought us all out in hives. It duly delivered a 0.75 percentage
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A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail. IMF Foresees More Crypto Selling Pressure Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the
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Global investment banks Goldman Sachs and JPMorgan have predicted an imminent recession in the euro area. “The risks to our forecast are skewed toward a sharper recession in the event of an even more severe disruption of gas flows, a renewed period of sovereign stress or a U.S. recession,” said the economists at Goldman Sachs.
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S&P Global has downgraded Pakistan’s outlook to negative from stable, as a depreciating currency, tighter global financial conditions and higher commodity prices weaken the government’s external position. S&P Global reaffirmed its sovereign credit rating of “B-/B” and said it expected external resources to remain “under pressure”, even after an expected IMF disbursement of $1.3bn. “The
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Bitcoin (BTC) price rallied toward $24,200 on July 28 after a near 10.5% surge that began a day earlier. The gains appeared after Federal Reserve Chairman Jerome Powell signaled intentions to slow down their prevailing tightening spree. They prompted some Bitcoin analysts to predict short-term upside continuation, with CryptoHamster seeing BTC at $26,000 next. It
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After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm’s vendors accessed a list of Celsius client emails, and the email addresses were “transferred to a third party.” Furthermore, Celsius customers have written to the court begging to
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Three United States senators have written to Fidelity Investments CEO Abigail Johnson demanding an explanation for the financial services company’s decision to include Bitcoin-exposed funds in its 401(k) retirement plans. “This decision is immensely troubling,” they wrote. Democrats Dick Durbin, Elizabeth Warren and Tina Smith sent their letter Tuesday. The letter, which is around a
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