Economy News

Jerome Powell started his recent interview with David Rubenstein by saying he won’t give any hints on potential rate cuts or hikes.

The United States is experiencing significant geopolitical turmoil and struggling with inflationary pressures. Escalating interest rates have led to an unsustainable economic model, exacerbated by de-dollarization efforts within the BRICS countries, which have resulted in a marked depreciation of the US dollar over the past four years.

Fundstrat’s Tom Lee has made a bold forecast for the S&P 500, projecting it to nearly triple to 15,000 by the end of the decade.

A financial expert predicts a major announcement that could have a huge impact on the US dollar. In fact, the BRICS alliance is expected to accelerate its de-dollarization efforts at the upcoming event.

The latest data from the Federal Deposit Insurance Corporation (FDIC) shows a worrying trend in the US banking sector, as unrealized losses continue to rise, reaching over $500 billion.

James Hickman, founder of Sovereign Man, said that gold could soon displace the US dollar, citing developing countries and the BRICS that consider holding the US dollar in reserves risky.

Oil prices fell for a third straight day on concerns of weak demand from China. In addition, a stronger dollar and tepid capital market sentiment contributed to the downward trend.