Russia will have no use for the US dollar in the foreseeable future, according to the head of the State Duma Financial Market Committee, Anatoly Aksakov. The lawmaker explained that Western sanctions against Russia make it impossible for the country to purchase many American and European goods, which “makes their currencies useless.”

US Federal Reserve Chair Jerome Powell on Thursday vowed to do whatever it takes to tackle inflation but admitted he can’t control some cost spikes, including food and prices at the pump. Powell told the Senate Banking Committee he doesn’t expect gas or grocery prices to fall as a result of the Fed’s campaign of…

Gold is among assets that may be targeted in the next round of sanctions on Russia, Reuters reported on Tuesday, citing a draft document by EU leaders. The topic is expected to be discussed during the their regular summit on Friday.