NAPLES, Fla.—Judy Schroeder was living a stable retirement in this affluent Florida enclave. Then her apartment building was sold to a new owner during the pandemic and she lost her part-time job working at a family-owned liquor store.
Argentina’s economy is spiraling further into chaos after the shock presidential primary win of Javier Milei, a radical far-right politician. Milei has promised to dismantle the country’s central bank among a raft of unorthodox economic policies, and his win has been described as a “political earthquake.”
In the last decade, 37 traders and brokers have been prosecuted by the US Department of Justice and the UK's Serious Fraud Office for their roles in 'rigging' interest-rates during the Great Financial Crisis (GFC).
The Federal Reserve and five other central banks announced coordinated action Sunday to boost liquidity in US dollar swap arrangements, the latest effort by policymakers to ease growing strains in the global financial system.
President Joe Biden and his administration are attempting to develop an “authoritarian-style” and “surveillance-style” digital U.S. dollar through executive orders, warned House Majority Whip Tom Emmer (R-Minn.) on Feb. 28.
The heart of economic growth is an expanding subsistence fund, or the pool of real savings. This pool, which is composed of final consumer goods, sustains individuals in the various stages of the production process. The increase in the pool of real savings permits the expansion and the enhancement of the infrastructure, and this strengthens economic growth. An increase in economic growth for a given stock of money implies more goods per unit of money. This means that economic growth, all other things being equal increases the purchasing power of money.
British banker Sir Evelyn de Rothschild, who expanded the family bank and advised the late Queen Elizabeth II on financial matters, has died aged 91. “Sir Evelyn died peacefully [on Monday] at his home in London after a short illness,” the family said on Tuesday. The businessman, who trained race horses, dedicated 42 years of his career to his family’s bank.