Janet Yellen: US to breach its debt limit by December 15
The US may again face the risk of the government default. US Treasury Secretary Janet Yellen called on Congress to raise or freeze the debt ceiling by December 15. She supposes that “there are scenarios in which Treasury would be left with insufficient remaining resources to continue to finance the operations of the US government beyond this date.” Notably, the US faces such a problem quite regularly. In fact, the procedure usually takes place in a particular period of time. However, the Treasury Secretary once again had to remind Congress that it was high time to take a decision. “To ensure the full faith and credit of the United States, it is critical that Congress raise or suspend the debt limit as soon as possible,” Janet Yellen said.
Not so long ago, Congress raised the statutory debt limit by $480 billion. This sum was expected to prevent a default and to allow the government to continue borrowing through early December.
Bitcoin’s correlation with stock market grows
In its early days, bitcoin gained the status of “digital gold” which is widely recognized as a store of value and a hedge against inflation. Yet, some experts point out that bitcoin has been lately following the sentiment in the stock market rather than gold. In 2021, the macroeconomic background largely shaped the trajectory of the coin.
10:46 2022-01-21 UTC+00
Binance CEO among top wealthiest billionaires
Binance CEO Changpeng Zhao became the richest person in the world of cryptocurrencies last year. His fortune is estimated at $96 billion. According to Bloomberg’s rating of the world’s top cryptocurrency billionaires, Zhao is ranked first with an estimated net worth of $96 billion. He surpassed Mukesh Ambani, the Indian tycoon whose fortune also soared to $92.9 billion.
10:29 2022-01-21 UTC+00
WEF warns of potential split in global economy
Experts warn that an uneven global economic recovery could deepen divisions within societies and between countries in the near future. According to the World Economic Forum, the world economy risks splitting "into divergent trajectories" due to labor market imbalances as well as widening education and skills gaps.
06:48 2022-01-21 UTC+00
UK braces for heavy economic losses from Omicron
The UK is preparing for economic losses it could sustain due to the spread of the Omicron strain. According to preliminary estimates, the new variant of the coronavirus could cost the UK economy about $50 billion.The UK government is expecting that the economy would lose £35 million in the first two months of 2022 alone due to Omicron.
15:23 2022-01-20 UTC+00
Meme coin Shiba Inu plans big surprises for 2022
While the crypto market is going through another crisis, let us recall the forecasts made for 2022. By the way, some of them predicted the crash in the value of crypto assets. The situation around the major cryptocurrencies is more or less clear.
13:13 2022-01-20 UTC+00
US Fed to complete softest monetary policy in its 108-year history
In December, the US central bank confirmed that it had to resort to aggressive monetary tightening. Previously, the regulator sent a message to global markets that the ultra-easy monetary policy was coming to an end. In March 2020, the US Fed embarked on a large-scale emergency QE program. Since then, it has injected $4.4 trillion into the domestic and global economies.
12:38 2022-01-20 UTC+00