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The Federal Reserve on Wednesday told the public that it has forwarded the time frame for raising interest rates. “Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,” the Federal Open Market Committee (FOMC) said in a statement. The … Read more
The statement appeared as Bitcoin investors waited for fresh economic projections from the Federal Reserve and China pledged to release metal reserves amid concerns over commodity rally. Go to Source Powered by WPeMatico
The survey results coincide with U.S. inflation climbing to the highest levels since 1992. Go to Source Powered by WPeMatico
Investment bank JPMorgan Chase is stockpiling cash according to the company’s CEO Jamie Dimon. The investment banker doesn’t seem to believe inflation is “transitory” and he thinks there’s a “very good chance” inflation could stick around. JPMorgan Chase CEO: ‘I Do Expect to See Higher Rates and More Inflation’ At the end of April, Bitcoin.com … Read more
Billionaire hedge fund manager Paul Tudor Jones says he likes bitcoin. Noting that he can trust math, the famed hedge fund manager said, “bitcoin has appealed to me because it’s a way for me to invest in certainty.” Jones also shared his investment strategies in response to the Fed’s policy. Paul Tudor Jones on Bitcoin, … Read more
Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. In his unanimously adopted motion, House Representative Bamidele Salam warned the Central Bank of Nigeria (CBN) of the negative “implications of further devaluing the naira.” Lawmakers Slam CBN U-Turn The House’s warning follows … Read more
It’s grim news for economists and a bittersweet advertisement for Bitcoin this week after the latest CPI report. Go to Source Powered by WPeMatico
Economists expect the annual Consumer Price Index (CPI) to climb to 4.7%. Go to Source Powered by WPeMatico
Deutsche Bank published a report Monday noting that the United States is facing “the very real specter of consumer-driven inflation.” The bank’s chief economist David Folkerts-Landau and others notably highlight the Federal Reserve’s monetary easing policy and recent tolerance toward higher inflation. Deutsche Report: ‘Transitory Inflation Could Feed Into ’70s Style Stagflation’ The price of … Read more
Jeff Currie, the global head of commodities research at Goldman Sachs, described Bitcoin as a “risk-on” asset that is similar to copper as a hedge against inflation. Go to Source Powered by WPeMatico