Household wealth dropped by $13.5 trillion from January to September, second-worst destruction on record
American households lost about $6.8 trillion in wealth over the first three quarters of 2022 as the stock market shed more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts.
Hungary Delaying NATO Expansion Seeks Israel’s Defense
Hungary’s controversial prime minister says his country will only consider ratifying NATO military alliance membership of Finland and Sweden next year.
New York Fed announces test of digital dollar with major banks
The Federal Reserve Bank of New York and major banks will launch a three-month test of a digital dollar in hopes of studying its feasibility.
Central Bank Digital Currencies Spark Outrage; Dutch Queen Questioned
Dutch Queen Maxima has come under pressure over embracing central bank digital currencies (CBDCs), which could enable governments to control people’s spending.
British Chancellor Sacked After Disastrous Tax Plan
Britain’s embattled Prime Minister Liz Truss fired her Finance Minister Kwasi Kwarteng on Friday and deleted parts of their economic package in a desperate bid to stay in power and reassure markets after financial turmoil.
US hit with 15 billion-dollar disasters this year
Hurricane Ian, which has just devastated Florida and Puerto Rico, was the 15th billion-dollar weather and climate disaster to hit the US this year so far, Axios reports. Early estimates of damage from Hurricane Ian show insured losses of $53 billion to…
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