Search Results for: Fiscal policy

Harvard Economics Professor: US Default Could Spark Global Financial Crisis

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Harvard economics professor Kenneth Rogoff, who previously served as the chief economist at the International Monetary Fund (IMF), has warned that the U.S. defaulting on its debt obligations could spark a global financial crisis. “It’s a very perilous situation and we…

World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’

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On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with…

Bank of England Hikes Repo Rate by 75bps — UK’s 30-Year Fixed Mortgage Rate Jumps to 7%

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On Nov. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 basis points (bps). The increase brings the United Kingdom’s main lending rate to 3%, after a majority…

Natural Gas Price Hike Hits Crypto Miners in Iran

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Companies using natural gas as a power source to mint digital currency in Iran will have to deal with a sharp increase in the price of the fuel. The new rates set by the state-run supplier are almost double the previous…

S&P Global Report Says EU and UK Are in a Recession, Putin Thinks the West Is Greedy

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Today’s blustery global economy has everyone on edge as inflation has wreaked havoc on the wallets of ordinary people and energy prices continue to soar worldwide. According to Credit Suisse, “the worst is yet to come,” as the global investment bank’s…

IMF Bailout Could Be in UK’s Future, Says Strategist

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Mizuho Securities’ head of global macro strategies has warned that an IMF bailout may be in the U.K.’s future. Moreover, a former chancellor of the exchequer cautioned that Britain is entering a long and severe recession, emphasizing that it’s “the worst…

Goldman Sachs President Warns of ‘Unprecedented’ Economic Shocks and Tougher Times Ahead

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Global investment bank Goldman Sachs’ president and chief operating officer has warned of unprecedented economic shocks and tougher times ahead. His statement echoes JPMorgan CEO Jamie Dimon’s warning that a “hurricane” is coming our way. Goldman Sachs President’s Warning About the…

IMF Warns Crypto Boom Poses New Financial Stability Challenges, Urges Regulators to Step Up

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The International Monetary Fund (IMF) warns that the rising popularity of cryptocurrencies poses new challenges to financial stability. “Cryptoization can reduce the ability of central banks to effectively implement monetary policy. It could also create financial stability risks.” IMF Sees New…

The Big Three Credit Agencies Critique El Salvador’s Bitcoin Adoption — S&P Global Warns of ‘Immediate Negative Implications’

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All of the ‘Big Three’ credit agencies have said that El Salvador’s adoption of bitcoin could affect the country’s credit rating in a negative manner. After both Moody’s and Fitch Ratings published reports on the matter in El Salvador, S&P Global…