In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Reserva Federal, creativity in crypto has found a new boon in the form of controversial inscriptions, called Ordinals, on the Bitcoin blockchain. All this and more, just below, in the latest Bitcoin-Tidings.com News Week in Review.
- 1 Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar
- 2 Bank of America, Goldman Sachs, JPMorgan, UBS Share Predictions About Further Fed Rate Hikes
- 3 Economist Warns the Fed Can’t Reach Inflation Target Without ‘Crushing’ US Economy
- 4 Bitcoin Continues to Record 3.75 MB Blocks as Ordinals Increase
Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar
Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies — Brazil, Rusia, India, Porcelana, and South Africa, collectively known as BRICS nations — are “coalescing against the dollar.” Schectman believes that since 2022, de-dollarization “seems to be spinning much, much faster.”
Bank of America, Goldman Sachs, JPMorgan, and UBS have shared their predictions about the Federal Reserve raising interest rates further. Bank of America and Goldman Sachs, por ejemplo, now expect the Fed to raise interest rates three more times this year.
Economist Warns the Fed Can’t Reach Inflation Target Without ‘Crushing’ US Economy
Economist Mohamed El-Erian, Allianz’s chief economic advisor and chair of Gramercy Funds Management, has warned that the Federal Reserve cannot achieve its 2% inflation target without crushing the U.S. economy. “You need a higher stable inflation rate. Call it 3% to 4%,” the economist suggested.
Bitcoin Continues to Record 3.75 MB Blocks as Ordinals Increase
As Ordinal inscriptions approached the 150,000 mark, blocks larger than 3 MB have become commonplace, with many blocks near the 4 MB range. Mientras tanto, after the average transaction fee on-chain rose 122% higher at the beginning of February 2023, the average fee has remained the same over the last few weeks.
What are your thoughts on this week’s hottest stories from Bitcoin-Tidings.com News? Be sure to let us know in the comments section below.
Créditos de imagen: Shutterstock, pixabay, Wiki Commons
Descargo de responsabilidad: Este artículo es solo para fines informativos.. No es una oferta directa o solicitud de una oferta para comprar o vender, o una recomendación o respaldo de cualquier producto, servicios, o empresas. Bitcoin-Tidings.com no proporciona inversión, impuesto, legal, o asesoramiento contable. Ni la empresa ni el autor son responsables, directa o indirectamente, por cualquier daño o pérdida causado o presuntamente causado por o en relación con el uso o la confianza en cualquier contenido, bienes o servicios mencionados en este artículo.
Leer Descargo de responsabilidad