(Bloomberg) — From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. Most Read from Bloomberg All over Latin America, the upside of $100 crude has been blunted by … Read more
President Joe Biden has eaten into America’s’ emergency stocks to bring down gas prices The US Strategic Petroleum Reserve is at its lowest level since 1984, according to recently-published figures from the Department of Energy. While Biden has relied on emptying the US’ reserves to bring down gas prices, his administration has no plans to … Read more
Following the collapse of Terra and its ecosystem, there is a considerable reduction of confidence in stablecoins, especially Tether. Most participants in the crypto space have increased doubts about the level of stability with stablecoins. While many are treading more caution on most projects, some have made a complete back-out. That’s why the pressure has … Read more
Business analyst discusses impact of federal reserve’s interest rate hike – CBS News Watch CBS News With the highest inflation rates in four decades, the federal reserve has raised the short-term interest rate for the fourth time this year. CBS News business analyst Jill Schlesinger joins “CBS Mornings” to discuss the impact this has on … Read more
What the federal funds rate means to you The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate consumers pay, the Fed’s moves still affect the borrowing and saving rates they see every day. … Read more
A fall in forex reserves in Bangladesh below $40 billion, enough to cover only about five months of imports, has forced the government to seek a $4.5 billion loan from the International Monetary Fund, the Daily Star newspaper said. Bangladesh’s finance ministry and the IMF did not respond to requests for comment, but a senior … Read more
The country’s foreign exchange reserves declined by $7.541 billion to $572.712 billion in the week ended July 15 as the Reserve Bank continued to intervene in the market to curb the fall of the rupee. In the previous week ended July 8, the reserves shrunk by $8.062 billion to $580.252 billion, the Reserve Bank of … Read more
To keep up with the surging cost of living, consumers are spending more and saving less — and rising interest rates aren’t helping their financial picture much. Next week, the Federal Reserve likely will raise rates by another three-quarters of a percentage point (although some on Wall Street still think the Fed could opt for a full … Read more