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From crypto to crude, markets flatline ahead of today’s monumental Fed meeting

[Fortune, Getty Images] It’s Fed day, investors. Here’s what you’ll need to know. Good morning. Global stocks and U.S. futures are pretty steady ahead of today’s big Fed decision—or, more likely, lack of one. Either way, there will still be plenty of fireworks as Jerome Powell gets grilled on inflation, growth, the labor market and bond-buying. That […]

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What Inflation? Stock Funds Rise Again

[The Wall Street Journal] U.S.-stock funds squeaked out an average return of 0.5% in May—their seventh monthly gain in a row Nothing has been able to derail the monthly winning streak for mutual-fund investors. But things came close in May. U.S.-stock funds put a smile on investors’ faces again despite accelerating inflation.ILLUSTRATION: GIACOMO BAGNARAWorries about […]

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Inflation speeds up in April as consumer prices leap 4.2%, fastest since 2008

[CNBC] The Consumer Price Index rise for April from a year earlier was the sharpest since September 2008.Economists surveyed by Dow Jones had been looking for an increase of 3.6%.One big reason for the acceleration was base effects – at this time a year ago, the economy was hit with the worst of the Covid […]

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Congress stalled on stimulus talks and time is running out as millions face a ‘benefits cliff’

[CNBC, Getty Images] Negotiations on another Covid-19 relief bill are at an impasse. Some measures may get attached to a spending package that must pass by Dec. 11 to avert a government shutdown.Another weekly boost to unemployment benefits would most likely be part of the mix, according to unemployment and policy experts.The subsidy would probably […]

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China says its economy grew 4.9% in the third quarter

[CNBC, REUTERS] China’s economy recovered further from the coronavirus in the third quarter, according to data released Monday by the National Bureau of Statistics.The world’s second-largest economy reported third-quarter GDP growth on the low end of expectations, up 4.9% from a year ago. That brings growth for the first three quarters of the year to […]

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Digital Currencies May ‘Erode’ Dollar’s Role in Global Finance: Report

[Decrypt] A new report from Deutsche Bank says countries need to be ready for the disruption central bank digital currencies may cause. Central bank digital currencies (CBDCs) are likely to transform the way we live, and consumers and financial institutions need to be ready, Deutsche Bank has said.  CBDCs could have a particularly heavy effect […]

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Doug Casey and Rick Rule Forecast Future of The World Economy

[KITCO NEWS] This year, the global economy has contracted at a pace previously unseen. However, the crisis this year was only the trigger for what would otherwise have been an inevitable collapse in our economy. Doug Casey, founder of Casey Research, and Rick Rule, president of Sprott U.S., discussed with Kitco News the underlying fundamental […]

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US economy posts its worst drop on record

[CNN] New York — The US economy contracted at a 32.9% annual ratefrom April through June, its worst drop on record, the Bureau of Economic Analysis said Thursday. Business ground to a halt during the pandemic lockdown in the spring of this year, and America plunged into its first recession in 11 years, putting an end to the longest […]

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Pfizer CEO says Trump’s executive orders overhauling U.S. drug pricing will cause ‘enormous destruction’

[CNBC, AP] On Friday, Trump signed four executive orders designed to bring U.S. drug prices at least on par with their costs overseas.Trump has made lowering drug costs one of his key health-care issues early in his term.The comment by Bourla came after the company reported better-than-expected second-quarter earnings and raised its outlook for 2020.President Donald Trump’s executive orders aimed […]

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The Dollar Is Dropping. What It Means and Which Stocks Might Gain.

[Barrons, Bloomberg] The dollar has been weakening in recent months and currency strategists see more declines ahead. That could call for a different playbook for investors, including more foreign holdings. In a note to clients on Monday, Goldman Sachs ’s currency strategists forecast a 5% weaker dollar in trade-weighted terms during the next year. The U.S. Dollar Inde […]

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