Janet Yellen recommends avoiding higher interest rates
The US Treasury Department doubts the necessity to increase the key interest rate. Treasury Secretary Janet Yellen supposes that there are no reasons for higher interest rates at the moment.
“I don’t think there’s going to be an inflationary problem, but if there is, the Fed can be counted on to address it,” Ms. Yellen said at The Wall Street Journal’s CEO Council Summit.
Notably, economists have long been debating a possible surge in US inflation amid large government spending. They have also tackled the influence of the government’s actions on the US economic indicators. The US economic recovery has caused even fiercer debates.
Since the beginning of the year, Fed’s Chairman Jerome Powell has repeated several times that inflation is likely to rise as the economy recovers. He also thinks that it will be temporary and will hardly lead to a raise in the key interest rate.
“It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat, even though the additional spending is relatively small relative to the size of the economy,” Janet Yellen said, making it clear that this will not happen anytime soon. Such an announcement had a significant influence on the markets. The fact is that these comments belong to a person who is well aware of how the US Fed and the US Treasury Department work.
Australia targets tax-evading crypto investors
Tax evasion is considered one of the heaviest wrongdoings in any country. There have been plenty of cases in contemporary history when well-known and influential people had to incur severe penalties for their schemes to pinch big money from a treasury.
13:21 2021-06-18 UTC+00
Oil market heads towards new supercycle
Karin Kneissl, an independent member of the board of directors of Rosneft and Austria's former Foreign Minister, supposes that a new supercycle has begun in the global commodity market. At the same time, she emphasizes the insufficiency of investments in the sector. Karin Kneissl came to such a conclusion analyzing the price of some metals. At the St.
12:44 2021-06-18 UTC+00
Supporters of BTC issue veiled warning to Elon Musk
According to the data from Daily Mail, Anonymous, a hacker group, has issued a warning to Elon Musk, CEO of Tesla and SpaceX. Extremely strong influence of Musk’s tweets on bitcoin became the key reason for the confrontation. Notably, the recent posts published by Elon Musk in Twitter were disdainful concerning users who invest in BTC.
12:42 2021-06-18 UTC+00
Falling bitcoin stops altcoins from surging
Dogecoin (DOGE) has been successfully listed on the crypto exchange and keeps rising in price to the joy of its fans. Despite the obvious success, the currency founder, Billy Markus, said that Dogecoin’s growth was lower than he expected and blamed bitcoin for this. Apparently, the current stagnation of bitcoin has spoiled the picture for other digital currencies.
20:02 2021-06-17 UTC+00
Jack Ma's Ant Group gains approval to operate consumer finance firm
Apparently, Chinese authorities’ attack on Ant Group controlled by Alibaba founder Jack Ma has ceased. Chinese authorities reconsidered their position and allowed the fintech group to partially operate a consumer finance company. This move signals a welcome change in the government's attitude towards the e-commerce giant. As a result, Ant Group will receive a 50% stake in the new entity.
15:12 2021-06-17 UTC+00
Apple employees want to work remotely after pandemic
According to The Verge, citing a letter to Apple CEO Tim Cook, the company’s employees oppose a new policy that would require them to return to office three days a week. Many of them want to keep working remotely even after the pandemic. The letter said that staff members were dissatisfied with Apple’s remote/location-flexible work policy that forced some employees to quit.
14:49 2021-06-17 UTC+00