{"id":21728,"date":"2023-02-26T06:27:21","date_gmt":"2023-02-26T14:27:21","guid":{"rendered":"https:\/\/coinnetworknews.com\/brics-nations-coalescing-against-the-dollar-major-banks-predict-more-fed-hikes-bitcoin-records-large-blocks-as-ordinals-gain-currency-the-weekly-bitcoin-news\/"},"modified":"2023-02-26T06:27:21","modified_gmt":"2023-02-26T14:27:21","slug":"brics-nations-coalescing-against-the-dollar-major-banks-predict-more-fed-hikes-bitcoin-records-large-blocks-as-ordinals-gain-currency-the-weekly-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/brics-nations-coalescing-against-the-dollar-major-banks-predict-more-fed-hikes-bitcoin-records-large-blocks-as-ordinals-gain-currency-the-weekly-bitcoin-news\/","title":{"rendered":"BRICS Nations ‘Coalescing Against the Dollar,’ Major Banks Predict More Fed Hikes, Bitcoin Records Large Blocks as Ordinals Gain Currency \u2013 The Weekly Bitcoin News"},"content":{"rendered":"
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In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Federal Reserve, creativity in crypto has found a new boon in the form of controversial inscriptions, called Ordinals, on the Bitcoin blockchain. All this and more, just below, in the latest Bitcoin.com News Week in Review.<\/strong><\/p>\n

\"Expert<\/p>\n

Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar<\/h2>\n

Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies \u2014 Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations \u2014 are \u201ccoalescing against the dollar.\u201d Schectman believes that since 2022, de-dollarization \u201cseems to be spinning much, much faster.\u201d<\/p>\n

Read More<\/a><\/strong><\/p>\n

\"Bank<\/p>\n

Bank of America, Goldman Sachs, JPMorgan, UBS Share Predictions About Further Fed Rate Hikes<\/h2>\n

Bank of America, Goldman Sachs, JPMorgan, and UBS have shared their predictions about the Federal Reserve raising interest rates further. Bank of America and Goldman Sachs, for example, now expect the Fed to raise interest rates three more times this year.<\/p>\n

Read More<\/a><\/strong><\/p>\n

\"Economist<\/p>\n

Economist Warns the Fed Can\u2019t Reach Inflation Target Without \u2018Crushing\u2019 US Economy<\/h2>\n

Economist Mohamed El-Erian, Allianz\u2019s chief economic advisor and chair of Gramercy Funds Management, has warned that the Federal Reserve cannot achieve its 2% inflation target without crushing the U.S. economy. \u201cYou need a higher stable inflation rate. Call it 3% to 4%,\u201d the economist suggested.<\/p>\n

Read More<\/a><\/strong><\/p>\n

\"Bitcoin<\/p>\n

Bitcoin Continues to Record 3.75 MB Blocks as Ordinals Increase<\/h2>\n

As Ordinal inscriptions approached the 150,000 mark, blocks larger than 3 MB have become commonplace, with many blocks near the 4 MB range. Meanwhile, after the average transaction fee on-chain rose 122% higher at the beginning of February 2023, the average fee has remained the same over the last few weeks.<\/p>\n

Read More<\/a><\/strong><\/p>\n

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\nTags in this story
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Andy Schectman<\/a>, Block Size<\/a>, brics<\/a>, collapse<\/a>, de-dollarization<\/a>, Federal Reserve<\/a>, inflation<\/a>, interest rate<\/a>, major banks<\/a>, NFTs<\/a>, ordinals<\/a>, US economy<\/a><\/div>\n<\/div>\n

What are your thoughts on this week\u2019s hottest stories from Bitcoin.com News? Be sure to let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nBitcoin.com <\/h6>\n

\nSince 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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