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  • Jul 31, 2024

Traders boost bets Fed goes big on Sept rate cut

But as Powell during his post-meeting news conference repeatedly said the central bank has room to respond if the labor market unexpectedly weakens, markets began a turn. Rate futures prices now reflect about a 17% chance of a 50-basis point rate cut in September, versus about 5% before Powell began speaking. Prices also reflect increased confidence the Fed will cut a total of 75 basis points over its final three meetings of the year, most likely in 25-basis-point increments, bringing the policy rate down to a 4.5%-4.75% range.

  • Jul 31, 2024

Economists Skeptical About Trump's Bitcoin Stockpile Plan: A Game-Changer Or A Mere Election Gimmick?

In a surprising move, former US President Donald Trump has proposed a plan to establish a national bitcoin stockpile if he is reelected. This announcement has left economists and financial experts scratching their heads. What Happened: As reported by Wired on Thursday, Trump unveiled his plan at the Bitcoin 2024 conference in Nashville, Tennessee. He pledged to retain all bitcoin currently held or acquired by the US government in the future, estimated to be around 210,000 bitcoin, worth approxim

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