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Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he warned about the dangers that printing too much money could bring to the strength of
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The U.S. Federal Reserve has revealed that 722 banks reported unrealized losses exceeding 50% of their capital at the end of the third quarter of 2022. “Rising interest rates are creating significant unrealized losses in investment securities and in some cases depressing tangible equity,” according to the Fed’s Division of
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Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time,” he
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Amid the unfolding banking crisis and interest rate hikes, Bitcoin has been showing strong resilience attempting another breakout above $30,000. On Wednesday, May 3, the US Federal Reserve announced another 25 basis points rate hike taking the US funds rate to more than 5% for the first time since 2007.
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While inflation may be slowing, Americans are groaning under the direct and indirect impact of the Fed increasing the interest rate. The US Federal Reserve (Fed) has continued raising the interest rate and on Wednesday increased the rate by another 0.25 percentage point, causing worry about the potential impact. The apex
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Amid the banking crisis emerging in the market, the US economic environment looks extremely fragile. On Wednesday, May 3, the US Federal Reserve (Fed) announced its 25 basis point rate hike, the 10th consecutive one in just over a year’s time. Although the announcement was in line with the Street expectation,
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The US stock indices notably derailed from the recent growth path it has charted in recent times following the rate hike news. The US stock market and its associated indices took a major plunge at the close of trading on Wednesday as the Federal Reserve’s Open Market Committee (FOMC) hiked interest
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Share prices of several United States regional banks tanked in after-hours trading Wednesday, despite Federal Reserve Chairman Jerome Powell calling the banking sector “sound” and “resilient" just hours before.One such regional bank, PacWest Bancorp, fell a whopping 52.5% in after-hours trading after Bloomberg reported that the bank would explore strategic
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PLUS: The Madlads hype appears to be over, although it hasn't dragged down the price of Solana. Cryptos return to positive territory. Source
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In an email to CryptoX, Michael Safai, managing partner of crypto trading firm Dexterity Capital, said the latest Fed decision would likely lead to “mixed outcomes” for crypto traders. “While the language on future rate hikes was softened, the Fed left the door open by saying that future decisions will
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