Fed Governor Bowman Insists High Inflation Could Necessitate Future Rate Hikes
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 […]
Why is Jerome Powell gaslighting us about the odds of recession?
Economic data seems to indicate an economic slowdown is inevitable. So why is Fed Chairman Jerome Powell trying to gaslight Americans?This post was originally published on this site
Biden Appoints New Fed Vice Chair as Fedwatch Tool Shows Slim Chance of Rate Hike at June Meeting
Investors believe it is highly likely that the target rate will remain unchanged at the June 14 Federal Open Market Committee (FOMC) meeting, following the U.S. Federal Reserve’s decision to increase the federal funds rate by 25 basis points on May 3. As the battle against inflation in the U.S. rages on, the Biden administration […]
Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss
On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of […]
Fed Chair Warns of ‘Uncertain and Adverse’ Consequences of US Debt Default — ‘We’d Be in Uncharted Territory’
Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time,” he further cautioned. Fed Chair Jerome […]
Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet
Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially committed $1 million, with two-thirds of the money donated to two organizations. Former Coinbase […]
US regional bank shares sink despite Fed calling banking system ‘sound’
PacWest Bancorp was the hardest hit bank after-hours on Wednesday, falling over 50% following a reported plan to explore strategic options.This post was originally published on this site
Federal Reserve Raises Interest Rate by 25bps, Insists ‘US Banking System Is Sound and Resilient’
The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial […]
Morgan Stanley Strategist Warns of Equities Sell-Off in Response to ‘Hawkish’ Fed Message
On Monday, Morgan Stanley’s equity strategist, Michael Wilson, shared his thoughts on the state of Wall Street. He expressed his belief that a sell-off could be imminent, and that this could occur as a result of U.S. Federal Reserve chairman Jerome Powell’s upcoming remarks on Wednesday. Furthermore, there has been a great deal of conjecture […]
A Million-Dollar Bitcoin Bet, Financial Crisis Warnings Abound, and Ordinal Inscriptions Surpass 500,000 — Week in Review
Venture capitalist Balaji Srinivasan says hyperinflation is happening now, and is making million-dollar bets that the price of bitcoin will reach $1M in 90 days. In related news, myriad voices from the world of finance are sounding off about inflation, recession, and a brewing economic crisis. In spite of the economic turmoil, however, Federal Reserve […]