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March 29th - U.S. employment is likely to rebound in March after one of the largest job losses since the pandemic began. Economists estimate that 60,000 jobs were added this month after a loss of 92,000. The unemployment rate is expected to remain at 4.4%. Employment has not increased for several months since May of last year, indicating a lack of significant hiring momentum in the labor market, but without any worrying signs of deterioration. Against this backdrop of limited job opportunities, renewed concerns about inflation due to the war in the Middle East, fueled by soaring gasoline prices, have fueled fears among Americans. Economists point out that Marchs job growth is expected to rebound after disappointing February employment data—in which construction and leisure and hospitality jobs may have declined due to weather conditions. Employment in the healthcare sector may also increase as more than 30,000 Kaiser Permanente employees ended their strike.March 29th - According to Nikkei, U.S. electric vehicle manufacturer Tesla (TSLA.O) plans to double the number of its directly operated service outlets in Japan this year, reaching over 30, in an effort to improve after-sales service and expand market share. Tesla currently operates 14 service centers across the country, primarily located in major cities. These centers are equipped with facilities for vehicle inspection, maintenance, and repair, including bodywork. Many new service centers will be located near Tesla dealerships. The company will utilize existing spaces previously used as repair shops to rapidly expand its service network at a lower cost. In areas without directly operated service centers, Tesla partners with local auto repair shops to provide customers with over 50 vehicle maintenance service points.March 29th - According to the Wall Street Journal, hundreds of thousands of protesters may take to the streets on Saturday for nationwide "No Kings" rallies to protest President Trump. Organizers say Trump governs the country more like a king than a president. This Saturdays protest is the third "No Kings" rally in less than a year, amid controversy surrounding the actions of U.S. Immigration and Customs Enforcement (ICE) and debate over the deployment of federal troops to cities across the country. Organizers said this week that the U.S. involvement in the Iran war is another factor driving the protesters to the streets. Videos circulating on social media show protesters gathering on a beach in San Francisco, California, forming signs that read "Trump must step down immediately!"The UAE Ministry of Defense announced that it has activated its air defense system in response to missile and drone attacks from Iran.On March 29, the German Federal Government approved the "2026 Climate Protection Plan," allocating an additional €8 billion over the next four years to promote the achievement of 2030 emissions reduction targets through measures such as expanding wind power capacity and increasing subsidies for new energy vehicles. The German Ministry of the Environment stated that these measures could reduce carbon dioxide emissions by over 25 million tons by 2030, and reduce natural gas consumption by nearly 7 billion cubic meters and gasoline consumption by approximately 4 billion liters. German Environment Minister Carsten Schneider stated that this climate protection plan will inject "new momentum" into climate action and help reduce Germanys dependence on high-cost, unreliable oil and gas imports.

Bank of Israel Has Gained Support, Although It Remains Skeptical of the Digital Shekel

Skylar Shaw

May 10, 2022 10:07

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The Bank of Israel has continued to investigate the possibility of establishing a CBDC.


In November of last year, the Bank increased its research and development efforts.


Despite widespread support for establishing a CBDC, the Bank has yet to make any final decisions.


Over the previous year, as global economies have shown increased interest in CBDCs, Israel's Central Bank has received encouraging feedback from residents. The financial institution's stance on issuing one, however, remains uncertain.

Perhaps CBDCs to The Rescue?

Israel's Central Bank said on Monday that it has received popular backing for its plans to establish a digital shekel. Citizens feel that creating a central bank digital currency (CBDC) will benefit the economy by boosting payments system innovation, lowering the quantity of cash in circulation, and strengthening the fintech industry.


In November of last year, the Bank expanded its research and preparation activities in anticipation of the probable release of a digital shekel. After pondering launching a central bank digital currency in late 2017, it pushed its research to establish a more efficient payments system.


Furthermore, financial institutions said in March that a digital shekel would not materially degrade the banking system's commercial performance. Finally, the Bank urged the public to assess the benefits and drawbacks of establishing a CBDC.


The Bank of Israel said on May 10 that it had received 33 submissions from different industries, half of which were from overseas, and roughly 17 from the fintech industry.

The Bank of Israel Is Still Suspicious

Israeli citizens feel that a CBDC might help the economy thrive by fostering payment system innovation and lowering the quantity of cash in circulation.

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