The investment bank uses OpenAI’s ChatGPT to sniff out trading signals from Federal Reserve policy statements.
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White House Says Biden Has ‘Confidence’ in Fed Chair Powell While Fedwatch Tool Predicts a 25bps Hike This Week
With the Federal Open Market Committee convening on Wednesday and the recent financial troubles facing the U.S. banking system, White House press secretary Karine Jean-Pierre said President Joe Biden has “confidence” in Federal Reserve chair Jerome Powell. Meanwhile, according to the CME Group’s Fedwatch tool, the target rate probability suggests the Fed will raise the […]Powered by WPeMatico
‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change
At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many market observers are wondering why specific assets like PMs and […]Powered by WPeMatico
Market Strategist Warns of ‘Blood’ on February 1 Ahead of Fed Meeting
Stocks, precious metals, and cryptocurrencies rallied during the first month of the year, and market strategists are saying that markets could retract in the near future if the U.S. Federal Reserve keeps hiking rates and maintaining a broader tightening policy. In three days, on Feb. 1, 2023, the Federal Open Market Committee (FOMC) is set […]Powered by WPeMatico
Markets Spike After Fed Chair Says It ‘Makes Sense to Moderate the Pace’ of Rate Hikes, Hints Easing Could Happen in December
Equities, precious metals, and cryptocurrencies shined on Wednesday following Federal Reserve chairman Jerome Powell’s speech at the Brookings Institution in Washington. The crypto economy increased 3.11% to $860 billion, while the top four stock indexes jumped between 2% to 5% higher on Nov. 30. Stocks, Crypto, and Precious Metal Markets Jump Higher Against the Greenback […]Powered by WPeMatico
US Central Bank Hikes Benchmark Rate by 75 bps, Fed’s Largest Increase Since 1994
The U.S. Federal Reserve raised the federal funds rate by 75 basis points (bps) on Wednesday, and it was the largest increase since 1994. According to the Fed member’s expectations, the central bank will likely add another 1.5 percentage points by the year’s end. Fed Hikes Rate by 75 bps, Global Markets See Slight Rebound […]Powered by WPeMatico
JPMorgan Economist Expects the Fed to Hike Benchmark Rate by 75 bps as Global Markets Bleed
The U.S. Federal Reserve is expected to raise the federal funds rate during its next meeting on Wednesday and JPMorgan economist Michael Feroli believes that rising inflation will push the Fed to increase the rate by 75 basis points (bps). Last week, CME Group data indicated the market priced in a 95% chance that the […]Powered by WPeMatico