The international chip shortage has sent the price of vehicles soaring and affected the medical industry as well. With no end in sight, we need divine strategy from the Lord. From Independent. The Biden administration has warned that there could be extreme risks to the United States’ economy due to the semiconductor shortage. The chip shortage has significantly … Continued
President Joe Biden regulating this new frontier is an important development. From Fox Business. The Washington adage, “If it moves, tax it, and if it keeps moving, regulate it,” appears to apply to cryptocurrency, which has been on the move in popularity, reaching a market cap of $3 trillion, up from $14 billion five years before, … Continued
Because of rising interest rates, far fewer Americans are able to afford homes. From CNBC. Rising interest rates are crushing the mortgage market, as precious few homeowners can now benefit from a refinance and more potential homebuyers become priced out. Total mortgage application volume fell another 6% last week compared with the previous week, according … Continued
Thanks to some quick thinking from previous Presidents, the U.S. dollar, backed by oil, became the international standard, dominating the world. Now, however, America’s “petrodollar” may be closer to failing than we think. From FAI Mission. PEGGING THE GOLD DOLLAR July, 1944. As the Allies pushed inland from the Normandy coast towards Nazi-occupied Paris, a … Continued
As the well of government benefits for Covid runs dry, economists say that people are expected to return to work. Some are even hopeful that we will return to pre-pandemic levels this year. From The Daily Wire. On Tuesday, The Wall Street Journal reported that an estimated 11.2 million job openings still remain on the market … Continued
Amidst rising inflation and a foreign war, Biden’s approval rating has noticeably dropped. This could carry over into a red wave in the midterm election. From NBC News. Amid Europe’s largest land war since World War II, 7 in 10 Americans expressed low confidence in President Joe Biden’s ability to deal with Russia’s invasion of Ukraine in … Continued
Amidst the current cryptocurrency craze, Biden has ordered federal agencies to research the advantages and disadvantages of a digital dollar. A digital dollar would be extremely risky and worrying, as it would put the government in direct control of every American’s wallet. From The Hill. On March 9, the Biden administration released an executive order (EO) … Continued
It’s no secret that prices are on the rise. Inflation hit a 40-year high at a rate of 7.9 percent in February. Food is more expensive. Housing prices — particularly rents — are rising. And many of us have been shocked by the extra dollars we’re now handing over at the gas pump. Meanwhile, wages … Continued
As inflation continues to rise, Federal Reserve Chair Jerome Powell admits that it is far from temporary. He suggests aggressive interest hikes as a risky but efficient way to combat the current situation. From Daily Mail. Federal Reserve Chair Jerome Powell said Monday that the central bank may need to get more ‘aggressive’ with interest rate … Continued
New economic forecasts have significantly lowered the expected economic growth for the U.S. and for the world. From Fox Business. Russia’s invasion of Ukraine will likely hit economic growth globally and here at home. “The Russia-Ukraine crisis is viewed as a negative growth shock for the global economy,” said National Association of Business Economics President David … Continued
The Federal Reserve is expected to begin making major monetary policy changes this week to address inflation that could potentially cause an economic recession. From Fox Business. The Federal Reserve is expected to raise interest rates this week for the first time since late 2018, and economists anticipate further hikes throughout the year as policymakers seek to … Continued
Economic experts say we could be on the verge of a recession…now is the time to pray. From CNBC. Members of the Federal Reserve are debating how quickly to reduce the central bank’s portfolio of bonds, without starting a recession. Heading into the second quarter of 2022, the balance of Federal Reserve’s assets is almost … Continued
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