24 June 2019 FT — Articles to Read

Question: According to MSN: Money, what is the average credit score for people in Virginia?

White House waits to hear if citizenship can be on census – Pg. 2

  • …if the citizenship question were included, would be likely [self-response rate for the census] to go down by 5% among immigrant populations, which includes both citizens and non-citizens
  • A drop of that size would lead to California and Texas each losing a seat in the US House of Representatives….
  • An even bigger shift may happen on the state level, where the new census data could be used to Republican state legislators and governors to redraw district maps
  • Census results are also used to help distribute an estimated $880bn in federal spending every year, for education, public health, infrastructure and transportation, as well as federal financial assistance programmes such as Medicaid
  • The first time a question about citizenship was included on a US census was 1820.  It was removed in 1950, as officials worried that it was affecting the accuracy of the headcount

BIS warns on Facebook’s risk to finance – Pg. 10

  • Big tech groups such as Facebook could “rapidly establish a dominant position” in global finance and pose a potential threat to competition, financial stability and social welfare, …
  • The BIS, the central bank for central banks, said regulators around the world may need to “revamp” rules to deal with the structural changes being brought about by entrants that control “key digital platforms” like e-commerce sites and social networks
  • Facebook has touted Libra as a way to improve financial inclusion for the 1.7bn people without access to bank accounts

Dollar set to lose its lustre as Fed’s dovish stance conspires with G20 talks against the greenback – Pg. 10

  • The US dollar has been enjoying its status as the world’s highest-yielding and safest currency, as interest rates have hit 2.5% after four rises last year.  This has encouraged investors to sell their euros and yen to buy the greenback
  • Interest rates markets are pricing in two to three cuts in the US this year, …

Answer: 684 (Rank: 27)