JUST IN: ๐จ๐บ๐ธ Fed Chair Jerome Powell says no rate cuts if inflation does not improve.
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๐จ๐จ Meta announces they'll be shutting down the Metaverse, after pouring $80,000,000,000.00 into the project.
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๐บ๐ธ Fed Chair Jerome Powell warns rising energy prices from US-Israeli war with Iran will drive inflation higher.
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๐บ๐ธ๐ฎ๐ท US considers deploying 'thousands' of troops to reinforce war in Iran, Reuters reports.
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๐จ๐จ Oil analysts are saying they โwouldnโt be surprisedโ if oil went to $200-$250 a barrel.
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๐บ๐ธ Pentagon has requested over $200 billion from the White House to fund the war against Iran โ WaPo.
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๐จ๐ณ China has now bought gold for 16 consecutive months, bringing total reserves to a record 2,309 tonnes, worth ~$371 billion at current prices.
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๐ฏ๐ต Bank of โJapan will keep interest rates steady, citing uncertainty in the Middle East.
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๐ธ๐ฆ A Saudi analyst says the Kingdom could activate its defense pact with Pakistan if it enters the war with Iran, MEE reports.
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๐จ๐จ Gold prices extend losses to -5% on the day and silver falls over -10% as rate cuts are priced out due to rising inflation and soaring energy prices.
Gold is now down nearly -$1,000/oz from its record high.
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Gold is now down nearly -$1,000/oz from its record high.
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๐ช๐ฌ Egypt orders shops and restaurants to close by 9:00 PM due to the energy crisis caused by US-Israeli war with Iran.
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๐ฆ๐ช UAE says its $1.4 trillion investment framework with the United States will remain on track despite the war.
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๐บ๐ธ "Massive investment in AI contributed basically zero to US economic growth last year," per Goldman Sachs.
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๐ถ๐ฆ QatarEnergy CEO: We may have to declare force majeure on long-term contracts for up to five years for LNG supplies to Italy, Belgium, Korea, and China.
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