Archive for August 2022
FEDERAL RESERVE Powell warns of ‘some pain’ ahead as the Fed fights to bring down inflation
KEY POINTS Fed Chairman Jerome Powell on Friday pledged that the central bank will “use our tools forcefully” to attack inflation that is still running near its highest level in more than 40 years. In his annual Jackson Hole, Wyoming, policy speech, Powell added that higher interest rates likely will persist “for some time. The…
Read MoreFed Governor Touts FedNow as Alternative to CBDC
The Fed’s upcoming payment service fulfills many of the same purposes as a CDBC. Key Takeaways Governor Michelle Bowman said today that the Federal Reserve’s FedNow service could be ready by mid-2023. She suggested that the payments service addresses the need for a central bank digital currency (CDBC). She also said that the Federal Reserve…
Read MoreNews Bites There is ‘no limit’ to tyranny under CBDCs; Western democracy is a ‘façade’ – Zuby
According to the Atlantic Council’s CBDC Tracker, 105 countries are exploring adoption of a ‘Central Bank Digital Currency’ (CBDC), a digital money that a central bank would control. The United States, for example, is considering a ‘FedCoin’ CBDC. Author, rapper, and public speaker Zuby is against the idea. “This is a very dangerous technology,” he…
Read MoreDetermining How Today’s Inflation Impacts Your Retirement Ongoing Needs Tomorrow
With prices rising at a record rate, many retirees or people planning to retire soon may be increasingly worried about what sort of lifestyle they can afford. The good news is that the headline inflation number of 9.1% from the Bureau of Labor Statistics represents an average rise in consumer prices. Your own inflation rate may be different…
Read MoreBread causing $10-per-loaf sticker shock as inflation surges
Bread prices are becoming another source of sticker shock for grocery shoppers during a period of decades-high inflation, according to a report. The price of artisanal bread and other premium options has hit $10 per 2-pound loaf at some grocery stores – turning a pantry staple into a pain point for consumers already facing financial headaches…
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