regulation

401(k) Hardship Withdrawals Hit an All-Time High of 'Worrying', Says Vanguard

401(k) Hardship Withdrawals Hit an All-Time High of ‘Worrying’, Says Vanguard

Amid stubbornly high inflation, a record proportion of Americans are turning their 401(K) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of about five million employer-sponsored 401(k) accounts that Vanguard manages, the researchers said that 0.5% made hardship withdrawals in October. It’s a “worrying” all-time high, said retirement savings and …

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Reducing the Fed's balance sheet via quantitative tightening is "a total mistake", says Mizuho

Reducing the Fed’s balance sheet via quantitative tightening is “a total mistake”, says Mizuho

The Federal Reserve’s attempt to shrink its balance sheet through so-called quantitative tightening, or QT, is “a complete mistake,” according to Mizuho’s chief U.S. economist. “There is a non-negligible likelihood that market liquidity will be adversely affected well before the $2 trillion target is reached, preventing the Fed from reaching its target,” said Steven Ricchiuto, …

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US oil hits lowest price of the year thanks to China as OPEC+ exit decision looms

US oil hits lowest price of the year thanks to China as OPEC+ exit decision looms

Benchmark oil futures in the United States touched their lowest price of 2022 on Monday, briefly erasing what had been a sizable gain since the start of the year as China’s zero COVID policy was is wreaking havoc on energy demand expectations. The price move came less than a week ahead of a Dec. 4 …

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IMF Says Africa's Burgeoning Crypto Market Poses Risks and Needs Regulation

IMF Says Africa’s Burgeoning Crypto Market Poses Risks and Needs Regulation

Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here ! (Kitco News) – The IMF believes the collapse of Sam Bankman-Fried’s FTX exchange should serve as a warning to African nations about the risks …

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SEC Chair Gensler Discusses Crypto Regulation Following the Undoing of FTX — Says It's a 'Toxic Combination'

SEC Chairman Gensler Discusses Crypto Regulation After FTX Collapse – Says Field ‘Significantly Non-Compliant’ CryptoGlobe

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler outlined two paths the agency is taking to regulate the crypto industry. Meanwhile, a US congressman is investigating whether Gensler helped FTX CEO Sam Bankman-Fried and his bankrupt crypto exchange over legal loopholes to gain a regulatory monopoly. SEC Chairman Gensler on the loss of FTX …

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Op-ed: Crypto markets need regulation to avoid more washouts like FTX, says Coinbase CEO Brian Armstrong

Op-ed: Crypto markets need regulation to avoid more washouts like FTX, says Coinbase CEO Brian Armstrong

Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at Hilton Midtown on May 15, 2019 in New York City. Steven Ferman | Getty Images FTX – until recently one of the largest crypto exchanges in the world – declared bankruptcy on Friday after revelations about its business practices led to a wave of customer …

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'Dazzled by the money': Democratic ties to Sam Bankman-Fried under scrutiny after FTX collapse

‘Dazzled by the money’: Democratic ties to Sam Bankman-Fried under scrutiny after FTX collapse

The fall of Sam Bankman-Fried dealt an unprecedented blow to the reputation of the crypto industry – and some of that infamy may rub off on the politicians who took his money, as well as former regulators and employees. of Capitol Hill who took high-paying jobs representing digital asset companies before Congress. Bankman-Fried, founder and …

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