Philadelphia Federal Reserve Bank President Patrick Harker said on Wednesday it is “inevitable” that central banks will issue digital currency. He also said the United States should not be the nation to lead such a move. He had been asked about the Fed’s creation of “FedNow,” its own real-time payments system. The comments were first reported by Reuters.

“Frankly I don’t think we should be the first mover as a nation to do this,” Harker said at a St. Louis community banking conference. He noted the dollar’s status as world reserve currency and underscored the need for experimentation and tests when it comes to such technology. Read More

Human civilization will collapse by 2050, according to an Australian climate change analysis endorsed by a former Australian defense chief and senior royal navy commander.

According to the analysis, which was published by the Breakthrough National Centre for Climate Restoration, a think-tank based in Melbourne, Australia, climate change is “a current and existential national security risk” that “threatens the premature extinction of Earth-originating intelligent life or the permanent and drastic destruction of its potential for desirable future development.” Read More

The National Regeneration Movement, known as MORENA and led by Mexico President Andrés Manuel López Obrador (AMLO), won two governorships and many local elections in yesterday’s vote, which took place in six Mexican states.

The elections underscore AMLO’s popularity nearly one year after he easily won the Presidency, and his party won majorities in both houses of Congress. No Mexican President since 1997 has won such a broad mandate.

The vote marks the first since AMLO’s inauguration in December. MORENA won governorships in Baja California and Puebla. It also won mayoral offices and seats in statehouses. Read More

A cold war in the 21st-century seemed unlikely… until now.

Tariffs by the United States on $200 billion worth of Chinese products and retaliatory tariffs by China on $60 billion worth of American goods went into effect on Monday.

While the United States and China are competing for global supremacy, they maintain mutual agreements to handle their complicated relationship. But, the tide might be turning…
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A bull market is when stock prices continue increasing by 20 percent from a previous drop of 20 percent, or when the securities market keeps rising. Bull markets can also refer to other markets like housing, investment, or commodities. Read More