Fed Chair Jerome Powell said on Friday in remarks reaffirming the 🇺🇸US central bank's intent to be cautious in its upcoming monetary policy decisions.
Noting that a key measure of inflation averaged 2.5% over the six months ending in October, near the Fed's 2% target, Powell said it was clear that US monetary policy was slowing the economy as expected with a benchmark overnight interest rate "well into restrictive territory."
Noting that a key measure of inflation averaged 2.5% over the six months ending in October, near the Fed's 2% target, Powell said it was clear that US monetary policy was slowing the economy as expected with a benchmark overnight interest rate "well into restrictive territory."
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Not even 24 hours after. Gold went back to 2020. Someone is heavily manipulating the market🫠
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Bad news for 🇧🇪Brussels as 🇩🇪Germany's £51bn economic hole threatens entire EU bloc
🇩🇪Germany is grappling with a severe economic setback following a Constitutional Court ruling that deemed the use of £51bn (€60bn) for energy and green subsidies a violation of the constitutional "debt brake," limiting the federal deficit to 0.35% of GDP.
This jeopardizes Germany's ability to meet critical green and digital transition goals, risking EU-wide emission reduction targets and impacting the entire 🇪🇺European Union.
🇩🇪Germany is grappling with a severe economic setback following a Constitutional Court ruling that deemed the use of £51bn (€60bn) for energy and green subsidies a violation of the constitutional "debt brake," limiting the federal deficit to 0.35% of GDP.
This jeopardizes Germany's ability to meet critical green and digital transition goals, risking EU-wide emission reduction targets and impacting the entire 🇪🇺European Union.
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Nevertheless, 🇩🇪Germany`s top40 valued companies index (DAX40) just made a new all time high price(16500+) . Index made an impressive 13,5% + run over last two months.
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Messi of finance': 🇦🇷Argentina economy chief faces World Cup of crises
Argentina's new Economy Minister, Caputo, a 58-year-old sports enthusiast and former finance minister, faces the daunting challenge of addressing triple-digit inflation, rebuilding reserves, and navigating a recession. Appointed President Javier Milei, Caputo must balance market-friendly policies with Milei's radical ideas, including shutting the central bank and dollarizing the economy. Despite a positive market response to his appointment, Caputo's success is uncertain given Argentina's delicate economic situation, with high inflation, widespread poverty, and a looming debt crisis with bondholders and the International Monetary Fund (IMF).
Tough choices.
Argentina's new Economy Minister, Caputo, a 58-year-old sports enthusiast and former finance minister, faces the daunting challenge of addressing triple-digit inflation, rebuilding reserves, and navigating a recession. Appointed President Javier Milei, Caputo must balance market-friendly policies with Milei's radical ideas, including shutting the central bank and dollarizing the economy. Despite a positive market response to his appointment, Caputo's success is uncertain given Argentina's delicate economic situation, with high inflation, widespread poverty, and a looming debt crisis with bondholders and the International Monetary Fund (IMF).
Tough choices.
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Moody’s warns it may downgrade China🇨🇳
Moody's has changed China's credit rating outlook to negative, citing concerns about persistently low economic growth and challenges in the property sector. While the outlook downgrade does not guarantee an immediate credit rating downgrade, it raises the likelihood. Moody's highlights the increasing evidence of government support for financially strained local entities, posing risks to China's fiscal, economic, and institutional strength.
The deteriorating outlook coincides with China facing economic issues, including a prolonged property downturn, rising local government debt, a potential real estate crisis, and long-term demographic challenges, leading Moody's to project slower growth rates for the country.
Source
Moody's has changed China's credit rating outlook to negative, citing concerns about persistently low economic growth and challenges in the property sector. While the outlook downgrade does not guarantee an immediate credit rating downgrade, it raises the likelihood. Moody's highlights the increasing evidence of government support for financially strained local entities, posing risks to China's fiscal, economic, and institutional strength.
The deteriorating outlook coincides with China facing economic issues, including a prolonged property downturn, rising local government debt, a potential real estate crisis, and long-term demographic challenges, leading Moody's to project slower growth rates for the country.
Source
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🇸🇦Saudi Arabia has introduced a 30-year tax exemption package for foreign companies establishing regional headquarters in the country.
The initiative, led by the Ministry of Investment in coordination with the Ministry of Finance and the Zakat, Tax, and Customs Authority, includes a 0% corporate tax rate for three decades, starting from the issuance of the Regional Headquarters license.
The program aims to attract multinational companies to set up their regional headquarters in Saudi Arabia, positioning the kingdom as a leading commercial, industrial, and investment hub for the MENA region by providing various benefits and support services.
Will 🇸🇦Saudi Arabia become next 🇦🇪UAE?
The initiative, led by the Ministry of Investment in coordination with the Ministry of Finance and the Zakat, Tax, and Customs Authority, includes a 0% corporate tax rate for three decades, starting from the issuance of the Regional Headquarters license.
The program aims to attract multinational companies to set up their regional headquarters in Saudi Arabia, positioning the kingdom as a leading commercial, industrial, and investment hub for the MENA region by providing various benefits and support services.
Will 🇸🇦Saudi Arabia become next 🇦🇪UAE?
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The 🇪🇺European Central Bank (ECB) will cut interest rates by 25 basis points (bps) in each meeting starting April next year, Goldman Sachs(American multinational investment bank) says.
Economists at the brokerage forecast ECB's deposit rate reaching 2.25% by early 2025 from the current rate of 4%.
"We view April as somewhat more likely given our expectation for firmer growth, the ongoing strength in wage growth and more data to confirm the slowdown in underlying inflation," the economists said.
Slow and steady.
Economists at the brokerage forecast ECB's deposit rate reaching 2.25% by early 2025 from the current rate of 4%.
"We view April as somewhat more likely given our expectation for firmer growth, the ongoing strength in wage growth and more data to confirm the slowdown in underlying inflation," the economists said.
Slow and steady.
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Forwarded from Node of Time EN
🇩🇪At the end of the year, German economists assessed the business situation in the country more positively than in previous months.
In November, the Ifo business climate index reached 87.3 points, exceeding the result for the same period last year by 0.9 points.
Entrepreneurs in the manufacturing sector are less sceptical about the further development of the economic situation.
This trend is especially evident among energy-intensive industries, which resulted from the decline in prices for a number of energy resources. On the contrary, in the services sector the surveys record more pessimistic assessments of economic opportunities.
A slight improvement of the situation is observed only among entrepreneurs in the tourism and catering sectors.
It is worth noting that in the 48th calendar week of 2023 (from 27.11.2023 to 03.12.2023), the number of customers in retail shops decreased by 4.64% compared to the previous week and by 3.19% compared to this period last year.
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💥Our channel: Node of Time EN
In November, the Ifo business climate index reached 87.3 points, exceeding the result for the same period last year by 0.9 points.
Entrepreneurs in the manufacturing sector are less sceptical about the further development of the economic situation.
This trend is especially evident among energy-intensive industries, which resulted from the decline in prices for a number of energy resources. On the contrary, in the services sector the surveys record more pessimistic assessments of economic opportunities.
A slight improvement of the situation is observed only among entrepreneurs in the tourism and catering sectors.
It is worth noting that in the 48th calendar week of 2023 (from 27.11.2023 to 03.12.2023), the number of customers in retail shops decreased by 4.64% compared to the previous week and by 3.19% compared to this period last year.
#3
💥Our channel: Node of Time EN
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👏 Fastest press conference in the Wild West. White House Speaker Karyn Jean-Pierre started and ended it in 10 seconds.
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A survey of 500 institutional investors reveals that the most significant economic threat in the coming year is posed by geopolitical actors capable of disrupting global economic and market assumptions with a single action. This concern ranks higher than potential central bank policy mistakes, consumer pullbacks, or China's sluggish economy.
The survey, conducted in a post-COVID world where alliances are breaking down, indicates a growing apprehension about geopolitical risks, particularly related to an alliance between 🇷🇺Russia, 🇰🇵North Korea, and 🇮🇷Iran, leading to increased economic instability.
Additionally, other financial institutions, such as Bank of America Global Research and BlackRock Investment Institute, share similar views on the elevated geopolitical risk in the current volatile market environment. The report notes that 72% of respondents anticipate increased market volatility due to potential complications in the upcoming 🇺🇸US elections.
The survey, conducted in a post-COVID world where alliances are breaking down, indicates a growing apprehension about geopolitical risks, particularly related to an alliance between 🇷🇺Russia, 🇰🇵North Korea, and 🇮🇷Iran, leading to increased economic instability.
Additionally, other financial institutions, such as Bank of America Global Research and BlackRock Investment Institute, share similar views on the elevated geopolitical risk in the current volatile market environment. The report notes that 72% of respondents anticipate increased market volatility due to potential complications in the upcoming 🇺🇸US elections.
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🇺🇸USA interest rates remain unchanged (5.5%). I believe from next year we will see rate cuts around the world.
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