Diamond News Archives
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More Americans are willing to invest in gold compared to Bitcoin over the next ten years (13 percent and 9 percent, respectively), according to a recent survey conducted by New York-based consumer financial services company Bankrate.
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In this second blog of our financial history series, we go through the development of banking from that of early money exchangers to the rise of the ‘shadow banking’ sector, and we explain how the modern banking system operates.
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As Federal Reserve Chair Jerome H. Powell and Treasury Secretary Steven Mnuchin scrambled to save faltering markets at the start of the pandemic last year, America’s top economic officials were in near-constant contact with a Wall Street executive whose firm stood to benefit financially from the rescue.
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(IDEX Online) - US sales of watches and jewelry in April were up by 176 per cent year-on-year, reflecting a robust recovery from the depths of the global pandemic. April 2020 saw total sales halved, as the first lockdowns and travel restrictions were imposed. Year-on-year sales have been steadily increasing since June 2020. In March 2021 there was a rise of almost 90 per cent, the first comparison with a full "Covid month". The figure, earlier reported as 65 per cent, has been revised up significantly based on actual through-the-till transactions rather than estimates.
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The multiple relief packages enacted by Congress flooded the U.S. economy with cash, providing much-needed liquidity as the Covid-19 pandemic sharply reduced activity in multiple sectors including travel, hospitality, dining and entertainment. But as Neil Irwin of The New York Times notes Tuesday, most of the aid money was front-loaded, issued in a matter of weeks or months.
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