Despite the turmoil in traditional global finance, with the BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the US Federal Reserve. In the US, creativity in crypto has found a new boon in the form of controversial inscriptions, called ordinals, on the Bitcoin blockchain. All this and more, just below, in the latest review of the Bitcoin.com news week.
Expert predicts imminent economic collapse as BRICS nations unite against dollar
Andy Schectman, chief executive of Miles Franklin Precious Metals Investments, explained in a recent interview that the top five emerging economies — Brazil, Russia, India, China and South Africa, collectively known as the BRICS nations — are “melting against the dollar.” Schectman believes that from 2022, de-dollarization “seems to be spinning much, much faster.”
Read more
Bank of America, Goldman Sachs, JPMorgan, UBS share predictions for further Fed rate hikes
Bank of America, Goldman Sachs, JPMorgan and UBS have shared their predictions that the Federal Reserve will raise interest rates further. Bank of America and Goldman Sachs, for example, now expect the Fed to raise interest rates three more times this year.
Read more
Economist Warns Fed Cannot Hit Inflation Target Without ‘Crush’ US Economy
Economist Mohamed El-Erian, chief economic adviser to Allianz and chairman of Gramercy Funds Management, has warned that the Federal Reserve cannot hit its 2% inflation target without crushing the US economy. “A higher stable inflation rate is needed. Call it 3% to 4%,” suggested the economist.
Read more
Bitcoin Continues To Record 3.75MB Blocks As Ordinals Rise
As ordinal signups approached the 150,000 mark, blocks larger than 3MB have become common, with many blocks near the 4MB range. Meanwhile, after the on-chain average transaction fee increased 122% in early February 2023, the average fee has stayed the same for the past few weeks.
Read more
What are your thoughts on this week’s most popular stories from Bitcoin.com News? Be sure to let us know in the comments section below.
image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
