Economy News

According to Atlanta Fed President Rafael Bostic, US inflation “appears to be shrinking”, which could allow the Federal Reserve (Fed) to cut interest rates later this year.

Russia’s oil and gas revenues rose more than 50% year-on-year to $9.4 billion in June, as reported by Reuters.

The US dollar remains the world’s leading reserve currency, with neither the euro nor the BRICS countries significantly reducing the world’s dependence on it, according to a recent analysis by the Atlantic Council’s Geoeconomics Center.

Russia’s central bank has urged businesses to explore alternative methods for cross-border payments, including cryptocurrencies and digital assets, to mitigate the impact of Western sanctions.

Russia is considering legalising stablecoins for international transactions to streamline cross-border payments for its companies.

Iran and Russia are committed to reducing their dependence on the US dollar by promoting the use of their national currencies in bilateral trade, stated Mohammad Reza Farzin during a speech to Russian economic activists in St. Petersburg.

The lingering impact of the 2008-2009 Great Recession compounded by the Covid-19 downturn continues to haunt the US economy, stirring concerns about financial stability.