Near-term economic prospects have brightened on hopes that the surge in COVID-19 cases caused by the Omicron variant may only be a "flash flood" and not a wave, according to staff of the Reserve Bank of India (RBI). "As the world stepped into the new year, the path of the recovery in India as in the rest of the global economy encountered headwinds from a rapid surge in infections due to Omicron," RBI staff wrote in their monthly State of the Economy article, released on January 17. "More recently, expectations that Omicron may turn out to be more of a flash flood than a wave have brightened near-term prospects," the article added. The article, authored by staff from various departments of the RBI, does not necessarily represent the views of the central bank. The rapid increase in daily infections starting late December 2021 forced the re-imposition of restrictions on movement and activity in several parts of the country. However, daily new cases are already showing a … [Read more...] about Near-term economic prospects brighter on hopes Omicron a flash flood, not wave, RBI staff say
Near term pipeline plans nearly double future slows
Share to Twitter Share to Linkedin Ether prices climbed today, rising above $3,200 this afternoon and then staying above that level since then. The world’s second-most valuable digital currency by market value climbed to $3,263.35 around noon EST, CoinDesk figures show. Since that time, it has traded within a very tight range, fluctuating between roughly $3,200 and $3,265, additional CoinDesk data reveals. Following these latest price movements, several analysts offered their takes on the cryptocurrency’s recent volatility and its future prospects. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] ‘A Strong Bounce’ “We saw a bounce in the broader digital asset market today,” said Brett Sifling, an investment advisor for Gerber Kawasaki Wealth & Investment Management . “Ethereum had a strong bounce off the … [Read more...] about Ether Prices Bounced Back Today—What’s Next For The Digital Currency?
File image of US President Joe Biden (AP Photo/Alex Brandon) Joe Biden was Barack Obama’s vice president. His Treasury secretary, Janet Yellen, was Obama’s pick to lead the Federal Reserve. The director of Biden’s National Economic Council, Brian Deese, was deputy director of Obama’s National Economic Council. His chief of staff, Ron Klain, was his chief of staff for the first two years of the Obama administration and then Obama’s top Ebola adviser. And so on. The familiar names and faces can obscure how different the new administration, in practice, has become. The problems Biden is facing are an almost perfect inversion of the problems Obama faced. The Obama administration was bedeviled by crises of demand. The Biden administration is struggling with crises of supply. For years, every conversation I had with Obama administration economists was about how to persuade employers to hire and consumers to spend. The 2009 stimulus was too small, and while we avoided a second … [Read more...] about This isn’t the presidency Joe Biden imagined for himself
Brian Klaas is an associate professor of global politics at University College London and a columnist for the Washington Post , where he frequently comments on U.S. foreign policy and democratization. For his latest and fourth book exploring the acquisition and repercussions of power, he traveled around the globe and interviewed more than 500 powerful people—from CEOs to cult leaders—and scoured the world for experts who research power, such as neuroscientists, behavioral economists, and anthropologists. advertisement advertisement Below, Klaas shares five key insights from his new book, Corruptible: Who Gets Power and How It Changes Us . Listen to the audio version—read by Klaas himself—in the Next Big Idea App. 1. Power doesn’t just corrupt—it attracts the corruptible. We’ve all heard Lord Acton’s famous aphorism: power tends to corrupt, and absolute power corrupts absolutely. Lord Acton was correct, but that’s just the tip of the iceberg. … [Read more...] about I interviewed more than 500 powerful people—from CEOs to cult leaders. Here’s why second-in-command is better
New York (CNN Business) The stock market is like that old slogan for Timex watches. It takes a licking but keeps on ticking. Sure, it's been a rocky start to the year on Wall Street following a stellar 2021. The Dow is down about 1% and the S&P 500 has fallen 2%. Trading has been volatile. But the Dow and S&P are still each just 3% below their all-time highs. Tech stocks have had a bit more of a wild ride. The Nasdaq is down 5% in 2022 and nearly 8% under its peak, putting it closer to a 10% drop known as a correction. Yet every time it looks like stocks could be heading for an even steeper drop, investors come rushing back in to buy the dips. Traders have so far mostly shrugged off temporary concerns about inflation and the Federal Reserve getting ready to raise interest rates , as well as fears over the impact that the Omicron variant of Covid-19 may have on the economy. Earnings growth has remained strong in spite of these … [Read more...] about Here’s what could rattle the stock market this year