Search Results for: White House economist

10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies

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The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore,…

Saudi Arabia Joining BRICS Would Accelerate Chinese Yuan’s Use as Trading Currency, Says Professor

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Professor Ashok Swain of Uppsala University’s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the bilateral trading being conducted using the yuan as the trading currency. ” How Saudi Arabia Joining BRICS Could Boost…

Russian Foreign Minister Sergey Lavrov States De-Dollarization ‘Can No Longer Be Stopped’

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Russian Foreign Minister Sergey Lavrov has spoken on the current shift to national currencies and the de-dollarization international markets are currently experiencing. In a press conference after addressing the UN Security Council on April 25, Lavrov stated this shift could not…

BRICS Currency Will Erode US Dollar’s Dominance, Former White House Economist Warns

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Former White House economist Joseph Sullivan has warned that a BRICS currency would erode the U.S. dollar’s dominance. If member nations use only a common BRICS currency for international trade, “they would remove an impediment that now thwarts their efforts to…

White House Is Not Preparing for Recession — Chief of Staff Says US Economy Is Strong

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White House Chief of Staff Ron Klain says that the U.S. is not in a recession. “The economy is growing. It is strong,” he stressed. In addition, White House Press Secretary Karine Jean-Pierre said there are no meetings or anything happening…

Despite the White House Debate, Critics Insist US Officially in a Recession After 2 Consecutive Quarters of Negative GDP Growth

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The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a…

Biden Administration Accused of Propaganda and ‘Redefining’ a Recession’s Technical Definition

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After people have accused bureaucrats and government agencies of changing definitions during the last few years, Joe Biden’s administration now claims that a second consecutive quarter of negative gross domestic product (GDP) does not indicate the U.S. is in a recession….

US Inflation Remains Scorching Hot, Jumping to 9.1% in June — White House Says CPI Data Is Already ‘Out-of-Date’

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According to the latest Bureau of Labor Statistics Consumer Price Index (CPI) report, U.S. inflation remains scorching hot as it has risen at the fastest yearly rate since 1981. June’s CPI data reflected a 9.1% year-over-year increase, even though a number…