A newly published Reuters poll reveals that most economists concur: the U.S. Federal Reserve has likely capped its rate hikes. Yet, rate cuts aren’t anticipated until March 2024. This survey drops just as markets approach the annual Jackson Hole Economic Symposium scheduled for next week. All eyes are on Fed chairman Jerome Powell, as investors […]
Tag: Federal Reserve
Legendary Investor Jeremy Grantham Predicts Inevitable US Recession, Challenges Fed’s Forecast
A significant portion of investors and financial organizations surmise that the U.S. could avert a recession, but Jeremy Grantham, the co-founder of investment firm Grantham Mayo Van Otterloo (GMO), deems it inescapable. Grantham contends that the Federal Reserve’s optimistic prognosis is “almost guaranteed to be wrong.” U.S. Bound for Recession, Says Investment Titan Grantham Esteemed […]
Trump: I Wouldn’t Renominate Powell for Another 4-Year Fed Chair Term, He Wanted Higher Rates for Longer, Was ‘Late’
During a portion of an interview aired on Thursday’s broadcast of the Fox Business Network’s “Kudlow,” 2024 Republican presidential candidate former President Donald Trump said that if he is elected president, he would not renom…
BRICS Summit Looms: Expert Warns of ‘Dramatic’ Shifts, US Dollar’s Wane, and Wall Street’s Blind Spots
Market expert Peter Grandich is urging the masses to keep a close eye on the BRICS bloc of burgeoning countries, hinting that specific partnerships might usher in “dramatic” ramifications. In just five days, the much-awaited BRICS Summit will convene, and Grandich believes the strategic economic plays of the organization could very well “rival the industrial […]
Bitcoin, Ethereum Technical Analysis: BTC, ETH Hit 1-Week Lows Ahead of FOMC Minutes
Bitcoin neared a breakout below $29,000 on Wednesday, ahead of the release of anticipated Federal Open Market Committee (FOMC) minutes. The minutes will show the United States Fed’s reasoning behind its last rate hike, whilst also giving guidance on its future decisions. Ethereum dropped to a one-week low. Bitcoin Bitcoin (BTC) extended recent declines on […]
US Congressman Warren Davidson: ‘Banning CBDC Is Essential to America’s Fintech Future’
U.S. Congressman Warren Davidson has railed against central bank digital currencies (CBDC), stating that enacting a ban on these instruments is “essential” for the future of the fintech industry in America. Davidson explained that many people wrongly conflate cryptocurrencies with CBDC when these are two different concepts. Congressman Warren Davidson: ‘CBDC Is Evil’ Congressman Warren […]
Goldman Sachs Expects Fed to Start Cutting Interest Rates in Q2 Next Year
Goldman Sachs has predicted that the Federal Reserve will start cutting interest rates in the second quarter of next year. The global investment bank’s economists also expect the Fed officials to forego hiking rates at their upcoming meeting. “We are penciling in 25 basis points of cuts per quarter but are uncertain about the pace,” […]
Peter Schiff Warns Investors of 2 ‘Huge Surprises’ — Foresees Inflation Too High for Fed Rate Cuts to Stimulate Economy
Economist Peter Schiff says investors are in for “two huge surprises.” Noting that the Federal Reserve has already lost its fight against inflation, he explained that by the time the U.S. economy officially enters a recession, inflation will be too high for the Fed to “stimulate” with interest rate cuts. Peter Schiff Sounds Alarm on […]
US Inflation Climbs to 3.2% in July, Stoking Concerns and Dividing Market Opinions
The most recent data from the Bureau of Labor Statistics reveals a growingly intricate inflationary scenario for the U.S. economy. Disclosed on Thursday, the Consumer Price Index for All Urban Consumers (CPI-U) exhibited a 3.2% annual increase in July, primarily propelled by housing expenses. This monthly surge aligns with June’s 0.2% escalation, where food costs […]
Fed Launches New Crypto Oversight Program, Issues Dollar Stablecoin Guidelines
The Federal Reserve has established a new supervisory program to increase oversight of crypto activities by the banks it regulates. The U.S. central bank also released additional guidelines for banks to follow before engaging in the issuance, possession, or transactions involving U.S. dollar stablecoins. Fed Steps up Crypto Oversight The Federal Reserve announced the establishment […]