💵 Can Crypto Buy a Seat in Congress?

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Markets

Fed set to raise rates by 75 basis points once again, Powell to talk hike path (4 minute read)The U.S. Federal Reserve is expected to raise interest rates Wednesday again by three-quarters of a percentage point for the fourth straight meeting as the central bank continues to try to tame multi-decade highs in inflation. Recent comments from Fed officials point to the propensity to slow down the pace of rate hikes if inflation data shows a clear downward trend. Investors will be focused on what Fed Chair Jay Powell says in his press conference about how quickly and how high rates could go in the coming months.

Can Crypto Buy a Seat in Congress? (8 minute read)A mountain of crypto riches can’t automatically purchase a seat in Congress. But for many campaigns winding their way toward the U.S. midterm election next week, it certainly doesn’t hurt. This year’s elections mark the first wave of races in which industry donations not only rose to significant levels but, with well over $80 million in play, it actually reached a level occupied by other U.S. industries famous for their political clout – such as health care, energy and Wall Street itself.Storm clouds gather over the pound as focus turns back to dire economy (3 minute read)The pound has just staged its biggest monthly rally in a year after shaking off weeks of British political turmoil, but this strength is likely only to be fleeting as investors return their focus to the stagnating economy and the Bank of England. The pound crashed to a record low against the dollar of $1.0327 in late September after the government announced plans to slash taxes and ramp up borrowing.

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Investing

Three Crucial Lessons from the Great Recession (5 minute read)An old saying reminds us, “There’s no lesson in the second kick of a mule.” Once you have learned something the hard way, nothing can be gained by repeating the experience. We all learned a lot from the great recession of 2008-2009. Given the tough times we’re facing in today’s troubled economy and markets, it’s worth revisiting that event and brushing up on the experiences that made us all a little wiser.

Uber stock pops 11% on revenue beat, strong guidance (3 minute read)Uber reported a third-quarter loss Tuesday but beat analysts’ estimates for revenue and gave strong fourth-quarter guidance. Its shares closed the day up 11%. Uber relied heavily on growth in its Eats delivery business during the Covid pandemic, but its mobility segment surpassed Eats revenue in its first and second quarters as riders began to take more trips. That trend continued during the third quarter, as the company’s mobility segment reported $3.8 billion in revenue while delivery reported $2.8 billion.

Why Walt Disney Stock Is Down 30% This Year (4 minute read)Disney is often considered a stable blue-chip stock for long-term investors. It's one of the world's largest media companies, it also operates the world's largest theme parks alongside its resorts and cruise ships. But this year, Disney's stock has declined by more than 30% as the S&P 500 has dropped by less than 20%. Let's see why the House of Mouse underperformed the market -- and whether its stock can bounce back over the next few quarters.

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Money

Money Games People Play (4 minute read)A few years ago, I bought a building from a couple that specialized in acquiring and rehabbing old properties. In other words, I got myself a tremendous deal. Which naturally begs the question – just what in the world were the sellers thinking?

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