Saturday, March 15

Author: Patti Mohr

Patti Mohr is a U.S.-based journalist. She writes about global diplomacy, economics, and infringements on individual freedom. Patti is the founder of the Global Economic Report. Her goal is to elevate journalistic principles and share the pursuit of truth in concert with others.
As Expected, Federal Reserve Raised Its Rate By 50 Basis Points
4May By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Brief

As Expected, Federal Reserve Raised Its Rate By 50 Basis Points

Photo by Kelly L on Pexels.com May 4, 2022-Global financiers closely watched closely today as the U.S. Federal Reserve raised its Federal Funds rate by 0.50 percent. It marks the first large increase in the Fed rate since 2000. With a balance sheet of $9 trillion and a Fed Funds rate of 0.33 percent up until today, the U.S. Federal Reserve has consider room to maneuver to counter inflation. At the end of its two-day meeting, the Fed announced it would raise that rate to 0.75 to 1 percent. The FOMC statement made note of geopolitical events such as the Russia-Ukraine war and China's aggressive COVID-19 policy of locking down whole cities. Furthermore, the committee said it would consider a wide-range of activities before its next decision. "The Committee would be prepared to adj...
Read More
Globalization In Reverse
19Apr By Patti MohrNo Comments
Global Economics, Globalization, Global Disintegration, Types of News: Quotes, Types of News: Videos

Globalization In Reverse

April 19, 2022—As the IMF warned of a slowdown in the global economy, its staff pointed to a larger issue likely to impact economies around the world for years to come. That issue is the reversal of globalization, which has been in place for decades. Pierre-Olivier Gourinchas, IMF Economic Counsellor and Director of the Research Department, described it as such: “The war also increases the risk of a more permanent fragmentation of the world economy into geopolitical blocks with distinct technology standards, cross-border payment systems, and reserve currencies." https://youtu.be/N_PU21dClgA
Read More
IMF Adjusts Economic Forecast for New Fragmented World
19Apr By Patti MohrNo Comments
Global Economics, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Brief

IMF Adjusts Economic Forecast for New Fragmented World

Inflation Expected To Remain High 'For Much Longer' April 19, 2022—War, rising energy costs, and a de-globalizing world are impacting the global economy in large and small ways. The International Monetary Fund is taking note and is adjusting its projection for economic growth to 3.6 percent for 2022 and 2023. That's down from 6.1 percent growth last year. Russia's war on Ukraine and the retaliating sanctions against Russia and Belarus are having the largest impact, according to Pierre-Olivier Courinchas, a lead economist with the IMF. But other factors are weighing down growth prospects too: Inflation, a slowdown in China, and monetary tightening by central banks. Fragmentation Reversing Gains From Globalization The IMF is trying to keep the world integrated, Courinchas said. D...
Read More
Elon Musk Makes Offer To Buy Twitter
14Apr By Patti MohrNo Comments
Big Tech, Digital Economy, Types of News: Brief

Elon Musk Makes Offer To Buy Twitter

Musk Says Platform Has Potential To Advance 'Free Speech Around the Globe' April 14, 2022—In yet another twist and extraordinary move, Elon Musk made an offer on Wednesday to buy 100 percent of the shares of the social networking site Twitter. It comes after Musk, the world's richest person, spent $2.64 billion this year to purchase a 9 percent stake in the company. He briefly agreed to join the company's board on April 9, but then changed course. In an April 13 letter to the Securities and Exchange Commission, Musk said he wants to turn the firm back into a private company. "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk wrote. "Howev...
Read More
Europe Takes On Big Tech
28Mar By Patti MohrNo Comments
Big Tech, Digital Economy, Types of News: Brief

Europe Takes On Big Tech

EU passes sweeping rules for big tech. EU Sets Rules For Online Gatekeepers Like Google, Meta, Amazon, and Apple March 28, 2022—The European Union agreed on a set of new rules for large digital platforms late last week. Lawmakers have been working on the legislation, known as the Digital Markets Act, since 2020. The set of sweeping changes for large platforms gives users greater rights and forces the companies to give greater access to competing operating systems, apps, and advertising positions. "These rules are key to stimulating and unlocking digital markets, enhancing consumer choice, enabling better value sharing in the digital economy, and boosting innovation," said Cédric O, a French Minister of State. "The European Union is the first to take such decisive action in this...
Read More
PROFILE: Alexey Navalny, Kremlin-Critic And Founder Of Anti-Corruption Foundation
25Mar By Patti MohrNo Comments
Corruption, Bribes, Illicit Finance & Money Laundering, Domestic Politics, Types of News: Videos

PROFILE: Alexey Navalny, Kremlin-Critic And Founder Of Anti-Corruption Foundation

Alexey Navalny is the founder of the Anti-Corruption Foundation. 'Corruption Kills,' Says Navalny Pointing to Russia's Bombing Campaigns On Ukrainian Cities March 25, 2022--Alexey Navalny is the founder of the Anti-Corruption Foundation. Now based in New York, the ACF conducts investigations into corruption and produces documentaries about oligarchs' wealth. He's been poisoned and jailed by the Russian government. Navalny is serving a sentence on charges the rest of the world recognizes as politically motivated by the Kremlin. Ironically, the Russian government's actions only shed more light on the state's corruption and repression of civil liberties. Russian Chemical Weapons In 2020, Navalny survived a nerve agent attack linked to the Russian Federal Security Service. As a...
Read More
In Contrast To NATO, Moscow-Based CSTO Is Silent On Ukraine
24Mar By Patti MohrNo Comments
Diplomacy, Geopolitics, Organizations, IMF, WTO, G7, Types of News: Analysis

In Contrast To NATO, Moscow-Based CSTO Is Silent On Ukraine

File photo: CSTO meeting 2020 March 24, 2022--The Russia-dominated military alliance known as the Collective Security Treaty Organization is keeping silent on the Ukraine crisis, including Russia's invasion and the humanitarian outflow of refugees. That stands in contrast to the 30 member NATO alliance, which issued a statement today in reaction to Russia's war in Ukraine. March Meeting on Crisis Response Meeting this month virtually, the Moscow-based CSTO staff discussed crisis-response initiatives with military representatives from its member states. Members include Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. According to a March 24 news statement about the meeting, the representatives discussed the "military and political situation in the world and ...
Read More
NATO Heads Of State Full-Text Statement
24Mar By Patti MohrNo Comments
Types of News: Brief

NATO Heads Of State Full-Text Statement

NATO Affirms 'Unwavering Support' For Territorial Integrity Of Ukraine March 24, 2022--While meeting in an extraordinary summit today, the heads of state of the 30 countries released a statement about Russia's war against Ukraine. The leaders expressed resolve to counter Russia's aggression and hold Russia and Belarus to account. Also, they called on China to "abstain from supporting Russia’s war effort in any way." The following is the full-text statement from the March 24, 2022 meeting: We, the Heads of State and Government of the 30 NATO Allies, have met today to address Russia’s aggression against Ukraine, the gravest threat to Euro-Atlantic security in decades.  Russia’s war against Ukraine has shattered peace in Europe and is causing enormous human suffering and d...
Read More
Europe Shores Up Its Defence, Sets Up Security Plan
23Mar By Patti MohrNo Comments
Europe, EU, Eurozone, Geopolitics, Types of News: Brief

Europe Shores Up Its Defence, Sets Up Security Plan

NATO Also To Strengthen Its Defense Capabilities In Europe And Perhaps Beyond March 23, 2022--This week political leaders are meeting on two tracks to build up security in Europe: in the NATO Alliance and in the European Council. Josep Borrell speaks ahead of European Council March 21, 2022 meeting. Even before Russia invaded Ukraine, European countries started plans to shore up their own defenses. It started in 2017 with talks of a voluntary defense arrangement among EU countries. Over time, it grew in. ambitions. After Afghanistan fell to the Taliban in August, European leaders began talking about strengthening their own defense capabilities and building stronger autonomy in foreign policy. That led to the culmination of the Strategic Compass. It is a forward-looking defense ...
Read More
Council Of Europe Moves Forward Minus One: Russia
16Mar By Patti MohrNo Comments
Democracy, Human rights, Organizations, IMF, WTO, G7, Types of News: Brief

Council Of Europe Moves Forward Minus One: Russia

March 16, 2022--The human rights body for the European continent made a big decision today: It kicked one of its 46 members out. It is another sign of the turning point in history when the world becomes more divided. In what it said was "an extraordinary meeting" in Strasbourg, the Council of Europe revoked the membership of the Russian Federation after 26 years of its participation. Human Rights Body Statement The expulsion comes a day after the council's parliamentary assembly initiated the procedure. "Through their actions in Ukraine the Russian authorities deprive the Russian people of the benefit of the most advanced human rights protection system in the world, including the jurisdiction of the European Court of Human Rights and our vast convention system," the council's l...
Read More

Contact Us