The price paid for “the Enigma,” a huge black diamond weighing in at 555.55 carats. Sotheby's claims that the diamond is a possible outcome of an asteroid or meteor's collision, making it valuable, old, and possibly from space. Naturally, the anonymous buyer paid for the gem in cryptocurrency.
On Friday, Goldman Sachs (NYSE:GS) updated its 2022 Federal Reserve forecast. They now predict seven 25-basis-point rate hikes by the end of 2022, one for every Fed meeting left in the year. Bank of America (NYSE:BAC) predicts the same.
Why should you care? Higher interest rates will result in greater borrowing costs, but they should help to keep inflation under control, and return it from its 1980s levels.
How much the average American was planning to spend on Valentine’s Day, according to a LendingTree survey. That’s a 44% increase from 2021, due to more inflation than a heart-shaped balloon! Although February 14 is now in the rearview, let’s remind ourselves that, in the immortal words of the Beatles, money can't buy me love.