Monetary Policy

Jason Furman, a prominent figure in former President Barack Obama‘s administration, suggested that the current economic conditions may warrant a less restrictive policy, in a recent social media post. What Happened: In a recent post on X, Furman, who is currently a Professor of Practice at...

The People's Bank of China is contemplating a major overhaul of its monetary policy, aligning it more closely with the U.S. Federal Reserve's model. The People’s Bank of China is contemplating a major overhaul of its monetary policy, aligning it more closely with the U.S. Federal Reserve...

Mohamed El-Erian, the chief economic adviser at Allianz, has urged the Federal Reserve to initiate interest rate cuts to prevent potential economic instability. What Happened: El-Erian, in an opinion piece for the Financial Times, emphasized the need for the Fed to act swiftly in reducing interest...

U.S. Federal Reserve chair Jerome Powell is set to testify before the Senate Banking Committee on Jul. 9. This will be his semiannual testimony on monetary policy and comes at a time when calls for interest rate cuts are growing. What Happened: Powell’s testimony is expected to cover a wide...

In a recent statement, Patrick Harker, the President of the Federal Reserve Bank of Philadelphia, suggested that one interest-rate cut in 2024 would be appropriate, based on the current economic forecast. This announcement reinforces the likelihood of sustained high interest rates. What Happened:...

Editor’s Note: A typo in the headline of this article has been corrected. The Federal Reserve, under Jerome Powell, kept interest rates within the 5.25-5.50% range for the seventh consecutive meeting on Wednesday, as widely anticipated by the market. This decision highlights the contrasting...

Economist Peter Schiff warned that inflation has turned premium coffee and many other goods into a luxury that consumers can no longer afford. What Happened: On Wednesday, Schiff took to X, formerly Twitter, to comment on the pre-market dip in Starbucks Corporation (NASDAQ:SBUX) shares. The...

The European Central Bank (ECB) on Thursday held interest rates at 4%, signalling no policy action for the fourth-consecutive month and following in the Federal Reserve’s cautious footsteps. Like the Fed, there was no major shift towards dovishness in the following press conference, where ECB...

JPMorgan CEO Jamie Dimon has expressed his concerns about the U.S. economy, warning of a potential recession and the market’s underestimation of the risks. What Happened: Dimon, speaking at the JPMorgan High Yield and Leveraged Finance Conference in Miami on Monday, cautioned that the U.S....

The cryptocurrency market experienced a sharp downturn on Tuesday, mirroring a broader sell-off across financial markets triggered by hotter-than-expected inflation data. Bitcoin (CRYPTO: BTC), which just a day earlier had breached the $50,000 mark, plunged 3% to $48,535.17. The catalyst for the...

Bank of Korea (BOK) Gov. Rhee Chang-yong highlighted the rapid evolution of the digital financial landscape and its implications for central banks worldwide at a conference, "Digital Money: Navigating a Changing Financial Landscape," last Friday. What Happened: Rhee...

In a recent policy meeting, the Bank of Japan (BOJ) decided to uphold its ultra-easy monetary policy. This decision is in response to what the bank refers to as “extremely high uncertainties.” What Happened: As per a CNBC report, the BOJ on Tuesday unanimously agreed to keep interest...

The cryptocurrency market has demonstrated resilience despite the U.S. Federal Reserve holding interest rates at their current level. Prices of major digital assets continue to rise. Bitcoin (CRYPTO: BTC), for example, witnessed a notable increase in its price, currently trading at approximately $...

Bloomberg Intelligence analyst Jamie Coutts has offered a compelling perspective on the future of the cryptocurrency market, emphasizing its close ties with broader economic trends, outlining how central bank liquidity and the global money supply (M2) are intricately linked to the dynamics of...

Central banks representing two-thirds of the world's nations and 98% of the global GDP are currently exploring the development of CBDCs, Coindesk reported, citing Bank of America. But a digital dollar? Don't expect one anytime soon. What Happened: “The Federal Reserve (Fed) continues...