“Biden” signs a bill to reduce inflation and investors expect an economic recession in the United States

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US President Joe Biden signs US anti-inflation bill

Summary of the Reserve Bank of New Zealand’s interest statement for August 2022.

Cryptocurrency market gets a positive boost after Fed decision.

US President Joe Biden signs US anti-inflation bill

To control the climate change crisis and reduce the high cost of medicines in the United States,
US President Joe Biden decided to sign the “Inflation Reduction Act.”

“This law is not only concerned with the current situation but also focuses on the future,
” Joe Biden said during his signing.

The law came to fight inflation including investments worth 369 billion dollars
to support climate and energy policies and 64 billion to reduce health insurance costs.
This law went with the support of Democrats in Congress.

The law also includes setting a minimum tax for companies that
generate more than one billion dollars in annual revenues, for the tax to be 15%
The results of the vote indicated a majority of 51 members against 50 votes in the Senate,
with reservations that any member of the Republican Party would vote in favor of the law.
At the same time, the House of Representatives approved
this plan by a majority of 220 votes against 207 votes.

Bank of America: 58% of investors expect a recession in the US economy

In light of the economic crisis,
fears are rising about the fear of an economic recession in the United States,
but at the same time, expectations of price increases are receding.
In a survey by “Bank of America” of investment fund managers,
58% of investors expect that the US economy
will go through an economic recession within the next 12 months,
which is its highest level since May 2020, compared to 47% in the previous poll.
The bank’s poll also showed that 88% of investors expect a calm in inflation over the next year,
in light of concerns about an economic downturn.
Investors focused that the greatest risk comes from high inflation,
then global recession, and tightening monetary policy by central banks around the world.

The US Federal Reserve issues signals to banks before they enter the crypto-asset industry.

In the context of regulating work in the cryptocurrency market,
the Federal Reserve decided to issue regulatory guidelines in order to impose them
on lenders under the supervision of the Central Bank before starting the digital currency industry.
The statement also indicated the danger of investing in encrypted assets,
because of the risks and rapid fluctuations related to consumer protection and financial stability
Meanwhile, US regulators are still studying the volatility of the cryptocurrency market
and its negative impact on the broader financial system.

artıcal name “Biden” signs a bill to reduce inflation

Summary of the Reserve Bank of New Zealand’s interest statement for August 2022.

Early this morning, Wednesday, the members of the Reserve Bank of New Zealand met,
for the interest rate and monetary policies and the development of new decisions for them,
in addition to the upcoming vision for the New Zealand economy.

The most important water came in the monetary policy statement issued by the Central Bank of New Zealand:

The Bank decided to raise interest rates by 50 basis points,
to bring the total interest currently at about 3%,
and this came within the framework of the New Zealand Reserve’s
decision to continue tightening monetary policy.

He also praised the flexibility of domestic demand inside his country
and facing internal and external obstacles during the first half of this year 2022.

The New Zealand Reserve also indicated an increase in visitors to New Zealand,
which will support demand and increase the income of the tourism sectors.

The unemployment rate is very low at 3.3%,
and economic data indicates that employment rates have exceeded
their maximum sustainable rate.

As a result of pressures in the labor market,
inflation is increasing, as measured by the consumer price index,
with an increase in wage rates.

He also pointed out that the supply chain crisis in the world
also has an impact on the slowdown in his country’s production.

The bank’s expectations indicate a decline in home and real estate prices to sustainable levels.

The bank also stressed the tightening policy and raising interest rates,
which is a basic measure to return in order to achieve the goal of inflation and employment,
after inflation in New Zealand reached 7.3% in the third quarter of this year.

artıcal name “Biden” signs a bill to reduce inflation

Cryptocurrency market gets a positive boost after Fed decision.

In a step that is considered positive in the framework of regulating access to digital currencies in the United States,
which is one of the largest economies in the world,
by establishing frameworks to regulate banks with regard to dealing in the cryptocurrency market.

After the issuance of these decisions by the US Federal Reserve,
it came very supportive of the cryptocurrency market,
which led to the cohesion of cryptocurrencies,
and the market became more interactive with decisions regarding the future of interest.

Today, markets are awaiting the minutes of the US Federal Reserve meeting,
which will clarify more regarding the next steps regarding interest rates.

The cryptocurrency market remained consolidation for the third day in a row,
near the total capital of 1.15 trillion dollars,
At a time, Bitcoin remained trading near the levels of 24 thousand dollars,
after it was at its lowest level during the day at 23.9 thousand dollars,
and this confirms the positive reaction to the news,
and Ethereum also rose at levels of 1.9 thousand dollars.

In a statement

the Fed said that digital currencies can present “potential opportunities for banks,”
and companies must know the capacity of their systems in order to
ensure the safety and protection of consumers from volatile assets.

The agency said that banks should notify the Federal Reserve before they engage
in any cryptocurrency-related activities,
and that banks that already want to engage with crypto
initiatives should inform the Federal Reserve of their participation in the digital asset space.

In light of the regulation, the Federal Reserve requested
that banks have appropriate controls to manage risks before entering into digital
currencies in order to ensure consumer protection,
and this regulatory step was the most comprehensive
after some Democratic senators demanded to rescind
its previously issued directives on digital currencies and
replace them with a comprehensive approach.
Coordination with other parties.

Companies must know the extent of their ability to keep digital assets on their balance sheet
and facilitate trading in digital currencies on behalf of customers.

artıcal name “Biden” signs a bill to reduce inflation

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“Biden” signs a bill to reduce inflation