• The Fed's own economists are sounding the recession alarm - and warning that more interest-rate hikes could tank the US economy

    6 days ago - By Business Insider

    Jerome Powell chairs the Federal Reserve. Yuri Gripas/Reuters
    The Federal Reserve's staff economists said there's a major risk of a US recession next year.
    They flagged tepid consumer spending, foreign headwinds, and tighter financial conditions.
    The economists join a long line of experts warning the US is headed for a painful downturn.
    The Federal Reserve's own economists have sounded the alarm on a potential recession, warning there's a serious risk that the US economy slumps into a painful downturn next year. The central bank's staff flagged rising pressure on consumer spending, trouble...
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  • FTX's collapse shows regulation is needed 'before the next crypto catastrophe takes down our economy,' Elizabeth Warren warns

    6 days ago - By Business Insider

    FTX's collapse shows the need for proper crypto regulation, US senator Elizabeth Warren said Tuesday. REUTERS/Joshua Roberts
    FTX's bankruptcy shows the need for crypto regulation, Elizabeth Warren warned Tuesday.
    "FTX's implosion should be a wake-up call. Regulators must enforce the law before more people get cheated," she said.
    Warren criticized crypto's usage in money laundering and its high environmental cost.
    FTX's sudden implosion shows there's a need for proper crypto regulation before digital assets cause wider economic damage, according to Elizabeth Warren. The Massachusetts...
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