Philadelphia Federal Reserve President Patrick Harker recently provided a strong endorsement for an interest rate cut in September. Speaking during the Fed’s annual retreat in Jackson Hole, Wyoming, Harker expressed a certainty that monetary policy easing is on the horizon. This statement is one of the most direct acknowledgments from a central bank official regarding
Global Finance
In a shocking turn of events, British technology entrepreneur Mike Lynch, who was recently acquitted of fraud charges in a landmark trial, has been reported missing after a tragic incident involving the sinking of a superyacht off the coast of Sicily. This news has left many stunned, as Lynch, once hailed as “Britain’s Bill Gates,”
Initially, it might seem like electric vehicles (EVs) are more cost-effective over time when compared to traditional gasoline-powered cars. The notion is that while EVs are usually more expensive to purchase upfront, the lower fuel and maintenance costs can lead to a lower total lifetime cost in comparison to gas vehicles. However, this statement cannot
Buffer ETFs are gaining attention among investors looking to hedge against recent market volatility. These exchange-traded funds, as highlighted by Bruce Bond, CEO of Innovator ETFs, offer a unique opportunity for individuals seeking exposure to the market while minimizing downside risk. For example, Innovator ETFs issue monthly buffer ETFs such as the PAUG ticker, which
China’s financial risks have been a topic of concern for quite some time, particularly when it comes to local government debt. People’s Bank of China Governor Pan Gongsheng recently stated in state media interviews that these risks have decreased. He mentioned that the central bank would collaborate with the Ministry of Finance to help China
Financial technology firm Klarna, well-known for its buy now, pay later loans, is venturing further into the realm of banking with the introduction of new products aimed at optimizing customers’ spending and saving habits. With the goal of “disrupting retail banking,” Klarna is encouraging users to consolidate their financial activities onto its platform, making it
As of July 2024, inflation in the United States has dipped below 3%, marking the first time it has fallen beneath that threshold in over three years. While certain sectors of the economy are experiencing disinflation, meaning that prices are still rising but at a slower pace, there are areas where deflation is evident. The
Warren Buffett, also known as the “Oracle of Omaha,” has raised eyebrows among his followers by owning the exact same number of shares in Apple as he does in Coca-Cola. This peculiar observation came to light after a regulatory filing revealed Berkshire Hathaway’s equity holdings at the end of the second quarter: both Apple and
UBS CEO Sergio Ermotti recently addressed concerns regarding the looming market volatility in the second half of the year. While many investors have expressed fears about a potential recession in the U.S., Ermotti remains optimistic about the economic outlook. Despite acknowledging the possibility of a slowdown, Ermotti emphasized the lack of clear macroeconomic indicators to
The electric car industry is constantly evolving, with companies competing to offer the fastest, most efficient, and environmentally friendly vehicles to consumers. Zeekr, a Chinese electric car brand, announced a groundbreaking innovation in battery technology that aims to address consumers’ concerns about battery driving range and ease of charging. Zeekr’s new batteries can go from
Mega events such as the Olympic Games or major concerts like Taylor Swift’s Eras tour often lead to a surge in demand for various goods and services, including hotel rooms and airline tickets. While this increased demand may result in rising prices in certain sectors, it is debated whether the average consumer feels the impact
Recent concerns about a potential U.S. recession have once again highlighted the issue of unemployment in the country. Experts are warning that the system in place to support workers during periods of unemployment is at risk of collapsing, as it did during the Covid-19 pandemic. Michele Evermore, a senior fellow at The Century Foundation, expressed