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Fed slashes interest rates to near zero

Fed slashes interest rates to near zero

Mar 16, 2020 – 8.11amWashington | The US Federal Reserve cut interest rates for the second time in less than two weeks on Sunday (Monday AEDT) in another emergency move to help shore up the US economy amid the rapidly escalating global coronavirus pandemic.In a statement, the central bank said it was cutting rates by…



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Fed holds, retains optimism on US economy

Jan 30, 2020 — 6.04amPolicymakers at the Federal Reserve voted to keep the key US interest rate unchanged. Markets were little changed as investors awaited comments from Fed chairman Jerome Powell.In a statement, the policy committee said: “Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although…


GE Pension Failure Could Send Investors into Arms of Bitcoin

GE Pension Failure Could Send Investors into Arms of Bitcoin

General Electric (GE) has decided to freeze its pension plan, removing two of the key features that have come to be associated with retirement savings – secure and guaranteed – for tens of thousands of employees. GE isn’t the first company to pull the plug, but as one of the oldest traditional companies in corporate…


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Fearful Banks Show Negative Bias Toward Crypto Investors

Banks are afraid of bitcoin and some of them are responding in a way that’s driving customers away. On July 18, founder and partner at Morgan Creek Digital Anthony Pompliano shared on Twitter an epic email from a disgruntled client that was sent to the CEO of the Royal Bank of Canada (RBC). The letter…


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Stock Market Bulls Made a Fool’s Gamble on Rate Cuts

When US nonfarm payrolls stunned traders by rising dramatically on Friday, the stock market’s bet that the Fed would stimulate further growth by drastically slashing interest rates was exposed as a fool’s gamble. That’s according to economist Mohamed El-Erian, who explained to CNBC’s “The Exchange” that a rate cut in July was likely but 50…




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Visa Launches Long-awaited Blockchain Product for Business Clients – Cryptonews

Source: iStock/onebluelightPayment card giant Visa launched their long anticipated international digital identity system based on blockchain architecture, Visa B2B Connect today. The company claims it will allow financial institutions to quickly process high-value corporate cross-border payments globally. According to the company, B2B Connect will facilitate transactions from the bank of origin directly to the beneficiary…