Russia's Crypto Ban Will Ease Risks But Limit Tech Diffusion: Fitch

The proposed attempt by the Central Bank of Russia (CBR) to ban digital currencies and related operations in the country has been identified by Fitch Ratings as a double-edged move that has its ups and downs. (Read More)

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JPMorgan Economists Discard Prior Recession Prediction, Foresee US Economic Resilience

JPMorgan’s economists have jettisoned previous predictions of an impending U.S. recession. Their chief U.S. economist, Michael Feroli, is confident that the American economy will maintain a modest but steady growth trajectory throughout the remainder of the current year and well into 2024. JPMorgan Foresees U.S. Economic Growth Amid ‘Ridiculous’ Fitch Downgrade and Recession Fears Echoing [...]

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Economist Peter Schiff Warns US Dollar Collapse ‘Inevitable’

Economist Peter Schiff has warned of an impending collapse of the U.S. dollar even though he sees Fitch’s downgrade of the U.S. rating this week as “meaningless.” While cautioning about a financial crisis and a crash, Schiff emphasized: “Given the trajectory of U.S. government deficit spending, a dollar collapse is inevitable.” Schiff on US Rating [...]

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Stablecoins Volume Down Despite Crypto Market Recovery, Ratings Agency Finds

Stablecoins, the digital assets designed to maintain a stable value, have long been viewed as a potential bridge between the cryptocurrency world and the traditional financial industry. However, recent developments have cast a shadow of uncertainty over their perceived stability.  As global policymakers continue to grapple with concerns about the crypto sector’s impact on the [...]

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White House, Yellen Slam Fitch’s US Rating Downgrade — Biden Officials Call It ‘Bizarre and Baseless’

Fitch Ratings has downgraded the United States’ debt rating. Biden officials call the downgrade decision “bizarre and baseless.” Both the White House and U.S. Treasury Secretary Janet Yellen strongly disagreed with the downgrade decision. Yellen claimed that the change by Fitch Ratings “is arbitrary and based on outdated data.” Fitch Downgrades US Rating Fitch Ratings, [...]

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