Annual inflation in the United States eased again in April, to 4.9%, and core inflation, which excludes energy and food prices, also fell slightly, to 5.5%. Thanks to the one above and to the one who invented wine! The Federal Reserve’s interest rate hikes have helped curb price growth since its peak in June. Markets are betting that the Fed will soon pause raising rates, although the labor market remains very active. Employers created 253,000 jobs last month, well above estimates.
On the other hand, the US government needs Congress to approve an increase in the debt limit, which already exceeds $31 trillion. Put on your helmet, this can get ugly. If you don’t, you’ll run out of money to pay your obligations in early June. Republicans are demanding spending cuts and changes to Biden’s program. Treasury Secretary Janet Yellen says that would be an economic and financial catastrophe, and could spark a constitutional crisis. With so much polarization, radicalism and dogmatism, I am not surprised that conservatives make us sweat until the last second to give us a collective heart attack. A default would have serious effects on global markets and the reputation of the United States.
A default would be the first in US history and would have serious consequences for global markets and for the country’s credibility. Experts have warned that a suspension of payments could send the country into a recession and cause unemployment to rise to cosmic levels.s. So it’s better that they get their act together and reach an agreement soon, because if not, things can get ant-colored.
Meanwhile, on planet Bitcoin, Bitcoin bulls are (apparently) running out of gas and out of lip service. Everything indicates that the anti-establishment narrative of the end of the world only works when the system is more or less fine. But when the going gets really bad, the brave anti-establishment warriors cringe and run for the dollar like everyone else. Ironic but true. Suddenly, We are all in the same boat. And if it sinks, we all sink (revolutionaries and rebels included).
Now, let’s talk about the top crypto news of the week according to Cointelegraph in Spanish: This is not a news summary. This is an opinion article. The intention is to reflect on the following headlines in a skeptical and critical way. This is an article for free thinkers.
El Salvador’s dedicated Bitcoin education program reaches 1 BTC in donations
“My First Bitcoin”, a non-profit educational program in El Salvador, raised over 1 BTC in donations from Bitcoin advocates around the world. Bitcoin Beach matched contributions and helped fund the expansion of the program. The crowdfunding was done with the Lightning Network.
This is what happens when adoption is no longer voluntary and becomes state policy. That is, when it is the Government that puts BTC to the citizen even in the soup. And not the other way around. All of this makes educational programs more indispensable.
The US vice president brings together top tech executives to discuss the dangers of AI
US Vice President Kamala Harris invited the heads of Google, Microsoft, OpenAI and Anthropic to a talk on artificial intelligence (AI). He wanted to know how to prevent this very promising technology from becoming a threat to society.. President Biden stopped by the meeting to say hello and ask for advice. Meanwhile, the White House announced more investment and initiatives to regulate AI. Experts say the US must lead in this field or it will fall behind other countries. The robots did not comment on it. John Connor, where are you?
PEPE memecoin reaches a market capitalization of USD 1,000 million
Oh really? Now the joke is a frog. The PEPE memecoin has reached a $1 billion market capitalization thanks to its listing on Binance. PEPE is a self-deprecating coin that has no intrinsic value or expectation of financial return. His only purpose is to entertain his fans with memes and jokes. Well, actually, their purpose is to make their promoters rich. However, some analysts warn that PEPE could be a scam or a pump and dump scheme. There is no surprise here. In other words, the frog can jump very high or fall very low.
In Argentina, data from the Central Bank forecast annual inflation of 126% by the end of the year
If you live in Argentina, be prepared to pay more for everything. The Central Bank expects annual inflation to reach 126% by the end of the year. That means prices will double in 12 months. and the dollar? Well, it will also rise like foam. The official exchange rate is expected to reach almost 400 pesos per dollar in December. And that’s without counting the blue dollar or the crypto dollar. What to do in this scenario? Some say that buying bitcoin is an option. Others prefer to keep the bills under the mattress. And others just cry.
Microsoft, Goldman Sachs and others partner on a new blockchain network
What do Microsoft, Goldman Sachs and Deloitte have in common? That everyone wants to play with blockchain technology. That’s why they’ve teamed up with other financial and tech giants to create the Canton Network, a private, interoperable blockchain network that promises to synchronize previously unspoken markets. The network is based on Daml, a smart contract language that allows assets, data and cash to be moved between applications. The objective is to improve the efficiency and security of institutional financial operations. Will this be the future of finance or just another experiment? We will know in July, when the tests begin.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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