US BANK

US GDP Data Will Showcase Consumer Set to Power Economy in 2024

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US GDP Data Will Showcase Consumer Set to Power Economy in 2024

Forecasters who follow the US economy found themselves in a familiar place after a recent retail sales report: revising up their estimates for GDP. Quarterly data on gross domestic product due Thursday from the Bureau of Economic Analysis is expected to show the economy expanded at a 2% annual rate in the final three months … Read more

Will Bitcoin Replace Dollars? Unlikely, Fed’s Michael Barr Says

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Will Bitcoin Replace Dollars? Unlikely, Fed’s Michael Barr Says

The top US bank regulator says that crypto tokens are unlikely to replace traditional currency and that banks should proceed cautiously when they experiment with the asset class. “Because crypto assets have proved to be so volatile, they are unlikely to grow into money substitutes and become a viable means to pay for transactions,” Federal … Read more