Brics is a grouping of the world economies of Brazil, Russia, India, China, and South Africa. It comprises about 27% of the world's mass and 42% of the global population. This organization meets annually at formal summits and coordinates multilateral policies in the face of intensifying geopolitical and economic competition with the West. Brics has… Continue reading Brics
Tag: Interest Rates
Federal Reserve to the Rescue
This week the Federal Reserve again raised the discount rate a steep .75 percent. This is the rate the Federal Reserve charges to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank's lending facility. This increased the discount rate to around 3.25 percent when it had been near… Continue reading Federal Reserve to the Rescue
