Fed can avoid 'deep pain' in inflation fight, Bostic says

© Reuters. FILE PHOTO: President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael Bostic, the president of the Atlanta Federal Reserve, said on Sunday that he still thinks the central bank can keep inflation under control without significant job losses. According to Bostic, if the economy does get hit by job losses, it could be less severe than in past slowdowns. He made the comments on “Face the Nation,” a CBS program. Bostic noted that the high rate of inflation is a concern and that the Fed should do all it can to bring it down. He said that the centralRead More →

Why Ethereum PoW Could Be Doomed to Fail

The proposed fork of Ethereum will not only cause carbon emissions, but it will also lead to the exit strategy of mining syndicates. In the next few years, the network will undergo a major transformation. This will involve migrating from a proof-of-work to a proof-of-stake system. The main advantage of a proof-of-stake system is that it eliminates the need for mining rigs. These are energy-hungry computers that process transactions. It is very common for critics of cryptocurrencies to point out the climate impact of mining. Although it is not clear exactly how much emissions Ethereum contributes, it is estimated that it is on par withRead More →

Are Housing Prices About to Collapse? Probably Not, and Here's Why

The housing statistics released this morning were not very good. The headline number of housing starts fell by around ten percent from last month, which was much worse than the consensus estimate of a decline of around three percent. However, the building permits number came in slightly higher than expected, and it shows that the house building boom is over. Despite this, it’s still not clear if the housing market is going to collapse. The numbers were worse than expected, but they weren’t surprising. The Fed has raised rates twice in the past couple of months, and mortgage rates are now higher than the lowsRead More →

Afraid you missed the stock-market bottom? This research says curb your FOMO.

According to a new study, curbing FOMO can help prevent people from feeling like they missed the stock-market bottom. Although investors might be driving stock-market gains due to fear of missing out, it’s usually not the case that they’re overly concerned about the “bottom” of the market. In a note on Tuesday, a strategist noted that investors might be overreacting to a potential technical issue. According to Dan Suzuki, a financial advisor at Richard Bernstein, many investors tend to chase the bottom of the market by buying early. However, history shows that it’s better to be late than early. Despite the recent market gains, theRead More →

Global EV Sales Are On The Rise, Including Major Purchases as Industry Evolves

This month, we’re seeing the rapid emergence and growth of the electric vehicle industry. One of the most prominent companies in this space is set to expand its offerings by launching an EV subscription service that will allow its members to get a variety of models from different manufacturers. China’s electric vehicle sales are expected to reach 6 million in 2022 New estimates show that China’s electric vehicle sales are expected to grow significantly faster than previously expected. Passenger Car Association of China projects that sales of electric cars will reach 6 million this year, up from the previous estimate of 5.5 million. The ChineseRead More →

Key Technology & Companies Powering the Metaverse

The internet was first introduced during the 1960s as part of a US Department of Defense project known as ARPANET. It then went global in 2019 and ended up with around 4.3 billion addresses. The project, which was initially based in California, was eventually taken over by a global system. The rise of the internet has resulted in a huge increase in retail sales over the past two decades. From $27.6 billion in 2000 to $880 billion in 2021, the internet has created a trillion dollar market cap. Every company in the US with a market cap over $1 trillion is tied to the internet,Read More →

Weekly Preview: Earnings to Watch This Week (BIDU, COIN, DIS, NIO)

A better-than-expected jobs report was not enough to excite the market on Friday. The three major averages ended the day mixed, with the S&P 500 posting a gain of 0.13 percent, the Nasdaq Composite Index gaining 0.08 percent, and the Dow Jones Industrial Average falling by 0.08 percent. The US Department of Labor reported that the country’s economy added 528,000 jobs in July, which exceeded analyst expectations. In addition, the number of jobs created in June also exceeded the previous month’s. The US’ unemployment rate fell to 3.5%, which is its lowest level since the Great Depression. It was also lower than the 3.6% thatRead More →

Baidu Approval

Baidu said it received approval from Chinese cities to provide its ride-hailing service, which is mainly operated without a safety or driver in the vehicle. The company noted that it would charge passengers for its service in the cities of Shenyang and Wuhan. The company, which is the first Chinese firm to get this type of permit, said it would operate its service in Wuhan and Changchun from 9 a.m. to 5 p.m. It would also operate in a 30 square-kilometer area in the city of Chongqing. Baidu’s vice president for intelligence driving said that the company’s decision to launch its ride-hailing service in theseRead More →