Low-Income Countries Face Financial Pressure Due to Higher Interest Rates

Low-Income Countries Face Financial Pressure Due to Higher Interest Rates

This year, low-income countries will be hit with their largest bills for foreign debt servicing in 25 years due to higher interest rates. As a result, their spending on crucial areas such as health and education is in danger of being compromised. According to a study that will be published in the coming days by…

US Banks Show Signs of Stability after Recent Turmoil: Deposits Rise for the First Time in a Month
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US Banks Show Signs of Stability after Recent Turmoil: Deposits Rise for the First Time in a Month

In late March, deposits at commercial banks in the United States increased for the first time in roughly a month, indicating a degree of stabilization after the banking system was rocked and depositors were rattled by the two biggest bank failures since the financial crisis. This is according to a Reuters report. On Friday, the…

The U.S Economy to go into Recession in 2023
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The U.S Economy to go into Recession in 2023

The U.S economy is expected to sink into a recession in the next 12 months as the Federal Reserve ramps up efforts to bring down raging inflation and cost of living. This is according to the Wall Street Journal’s latest survey of economists. The report puts the probability of the U.S economy tipping into a recession…

Fed Increases Interest Rates For The Fourth Time in 2022, Sparking Recession Concerns
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Fed Increases Interest Rates For The Fourth Time in 2022, Sparking Recession Concerns

The Federal Reserve increased interest rates by another 75 basis points on Wednesday to help cool the country’s stubbornly high inflation. This move sparked experts’ concern that the economy may have already entered a recession. In a press conference following the rate hike, Fed Chairman Jerome Powell stated that he doesn’t think the economy is…

Are we in a Recession?
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Are we in a Recession?

Are we in a recession? Talks of a possible recession among bankers, economists, and analysts have increased due to an uncertain economic backdrop caused by raising inflation, sky-high interest rates, and chaotic stock markets. While the U.S economy has remained resilient with robust consumer spending, and a strong job market on average, worries of increasing borrowing…

Surging Inflation: Where to Hide your Money During High Inflation
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Surging Inflation: Where to Hide your Money During High Inflation

During periods of surging inflation, prices of all commodities go up and cause money to lose value. The currency depreciates because consumers now need more money to buy the same bundles of goods as before. Mild, stable, and consistent inflation is beneficial to the economy as it maintains price stability and maximum employment. An annual…

How the Latest Fed Interest Hike Affects your Money
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How the Latest Fed Interest Hike Affects your Money

In a bid to tame the runaway inflation that has seen Americans slammed with double-point percentage increases in prices of essential commodities, the Federal Reserve has taken more aggressive and drastic measures by announcing an interest hike of 75 basis points (bps). The hike is the third this year and comes after a period of…

Rising Interest Rates: What Does This Mean For Personal Loans?

Rising Interest Rates: What Does This Mean For Personal Loans?

The Federal Reserve announced a 0.75% increase in the target range for the federal funds rate on the 15th of June 2022. This means that consumers can expect an increase in interest rates across all types of loans including personal loans over the coming year. Market analysts largely anticipated the hike, but it still comes…

Confirmed! Senate Votes To Hand Jerome Powell Second Term As Federal Reserve Chair

Confirmed! Senate Votes To Hand Jerome Powell Second Term As Federal Reserve Chair

The U.S senate confirmed that Jerome Powell would be chairing the Federal Reserve Board for another four years in his second term. He secured this position on May 12, 2022, after the members of the Senate cast an 80-19 affirmative vote. Despite the expiry of his first term in February 2022, Powell has not left…