Britain will have a digital pound on digital wallets
British legislators have warned against offering a digital pound in large amounts to avoid bank runs and protect cash and user privacy. The Bank of England and finance ministry expect an electronic pound in the second half of the decade. The Treasury Select Committee suggested a limit of up to 20,000 pounds for bank-provided digital…
Fed suggested a rate cut on New years
Bond investors anticipate a decrease in Federal Reserve interest rates in the first half of next year due to slowing US economic growth and inflation. The release of the US personal consumption expenditures (PCE) price index may bring this policy move closer. The data suggests a 25- to 50 basis-point cut before the end of…
Oil prices are ready to jump if supply limited
Oil prices rose due to investors anticipating an OPEC+ meeting that could limit supply. Brent crude futures for January rose 65 cents to $83.75, while U.S. West Texas Intermediate crude futures increased 55 cents to $78.41. OPEC+, including Russia and other producers, is expected to agree to over 1 million barrels per day of output…
US retailers give special offers on aftersales
US retailers are increasingly offering returnless policies for unwanted products whose returns costs exceed their worth, according to a survey by goTRG. The survey surveyed 500 executives at 21 large retailers, including Walmart and Amazon.com. The study found that 59% of these companies offer such policies, reducing profitability by requiring transportation, sorting, and resolding at…
The Fed would take another rate hike to lower inflation
Federal Reserve Governor Michelle Bowman has expressed concerns about the need for the central bank to raise borrowing prices to lower inflation to 2% over a reasonable time. The Fed maintains its benchmark overnight lending rate at 5.25%-5.50% for the second straight policy meeting this month. Bowman has been among policymakers who believe the Fed’s…
Walmart will imported goods from India and reduce imported from China
Walmart is increasing its reliance on India and reducing its reliance on China to cut costs and diversify its supply chain. Between January and August, 25% of Walmart’s U.S. imports were transported from India, down from 2% in 2018. However, 60% of its shipments originated from China, down from 80% in 2018. Walmart’s sourcing senior…
Bitcoin will tightened its internal system control to avoid illegal issues
Germany’s Bitcoin Group is improving its internal control system after BaFin ordered its subsidiary futurum bank to address money-laundering and terrorist financing issues. The company claims there are no violations of these laws and plans to remedy deficiencies in a timely manner. Bitcoin Group CEO Marco Bodewein said they are working with BaFin to address…
Gold reach $2,000 and may rose for ATH if condition met
Gold prices rose 0.5% to hover above $2,013 per ounce, indicating a rally back to new all-time highs. The precious metal may exceed its August 2020 record high of $2,074.88. Most traders believe momentum will push prices above $2,050. Gold is a safe-haven asset amid rising Middle East geopolitical tensions and expectations of the Fed’s…