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Amid swirling speculation in Washington D.C. about whether President Joe Biden will seek reelection in 2024 and questions about who really governs the nation, Fed Chair Jerome Powell disclosed that he hasn’t spoken with the U.S. President for over two years. “When any President calls you, you come and you meet, but that hasn’t happened … Read more
Analysts from Citi, the American multinational investment bank and financial services corporation, predict the U.S. Federal Reserve will begin reducing rates by September, totaling a 200 basis points (bps) cut over the next eight Federal Open Market Committee (FOMC) meetings. Nevertheless, Federal Reserve Chair Jerome Powell stated on Tuesday that additional progress is required before … Read more
According to the minutes from the Federal Reserve’s Federal Open Market Committee (FOMC), the choice to maintain the federal funds rate in its current range was driven by concerns about ongoing inflation and economic instability. Economic Instability and Inflation Keep Fed Rates Steady At the June 11-12 meeting, the FOMC highlighted that although inflation has … Read more
On Thursday, July 4, 2024, the price of bitcoin fell below $57,000, reaching a low of $56,952 at 5:20 a.m. EDT. There is widespread speculation about the Mt Gox distribution and the German government’s transfer of approximately 3,000 bitcoin to unidentified wallets, Coinbase, Bitstamp, and Kraken. Bearish Sentiment Grows as Bitcoin Continues to Slide Bitcoin’s … Read more
The International Monetary Fund (IMF) has advised the U.S. to improve its fiscal position by reducing spending and increasing revenues. The IMF emphasizes addressing rising debt through policy adjustments and recommends maintaining current interest rates until late 2024. “Given those risks, we agreed that the Fed should keep policy rates at the current level until … Read more
Pseudonymous analyst CryptoCon is confident Bitcoin will surge 25% above current all-time highs — its next big “step” before cracking the cycle’s top of $123,982. Go to Source
Three U.S. senators have urged Federal Reserve Chair Jerome Powell to cut interest rates, arguing that high rates stifle the economy and raise housing and auto insurance costs, which are key inflation drivers. They warn that prolonged high rates risk a recession and increased unemployment, calling for immediate rate cuts to stabilize the economy. Senators … Read more
The Federal Reserve isn’t sticking with the schedule of interest rate cuts it predicted earlier in the year. That makes navigating the market more challenging. Go to Source
Inflation in the U.S. has remained persistent, experiencing increases in the first two months of 2024, prompting members of the U.S. Federal Reserve to exercise caution against premature rate reductions. Federal Reserve Governor Michelle Bowman has voiced considerations for elevating interest rates, diverging from market anticipations of rate reductions within the year. Bowman’s concerns primarily … Read more
On Wednesday, March 20, 2024, the Federal Open Market Committee (FOMC) declared that there will be no change to the federal funds rate for the time being. The committee emphasized its intention not to lower the target rate until there is “greater confidence that inflation is moving sustainably” toward the 2% target. Fed Pauses Rate … Read more
