Elizabeth Warren, Jacky Rosen, and John Hickenlooper—three U.S senators—recently wrote to Federal Reserve Chair Jerome Powell, urging him to lower the Fed interest rate. At 5.5%, the current interest rate set by the Fed is the highest level in two decades. High borrowing rates, according to the senators, are making
Trading in the cryptocurrency market was turbulent last week, with a promising beginning quickly giving way to a bearish finish. Notably, the week got off to a great start with experts predicting that Bitcoin will achieve a new high, sending expectations rising. The mood has shifted, however, in anticipation of
Unrealized losses in the US banking industry totaling $517 billion were disclosed by the Federal Deposit Insurance Corporation (FDIC). Concerns regarding the stability of the US economy and financial sector have been sparked by the FDIC’s announcement that 63 banks are at risk of insolvency. A larger-than-expected drop in manufacturing
One of the most talked-about U.S. Spot Ethereum ETFs got the go light from the SEC last week, setting off a chain reaction in the cryptocurrency market. Notably, last week, as optimism grew, Bitcoin and most altcoins rose. It seems that investors’ trust in the digital assets market has been
According to the most recent annual household survey conducted by the Federal Reserve, the number of individuals in the United States who reported owning or using cryptocurrency fell to around 18 million in 2023. Following drops of 10% in 2022 and 12% in 2021, the Federal Reserve’s Survey of Household
David Solomon, CEO and chairman of Goldman Sachs, forecasted that the Federal Reserve would not decrease interest rates this year. Since it is a highly volatile asset, Bitcoin reacts quickly to shifts in the economy as a whole. The global financial market is seeking solutions to wide questions, and David
The minutes from last week’s Federal Reserve meeting and Nvidia’s massive earnings release will be the economic highlights. Markets might be somewhat swayed by news on consumer inflation predictions and global manufacturing and services indices. A first occurred last week when the DJIA, the U.S. stock market index, surpassed the
The financial markets were elated by the announcement of the U.S. Consumer Price Index (CPI) statistics this week. It seemed like inflationary pressures could be receding. The report prompted a strong reaction from BlackRock’s Chief Investment Officer (CIO) of Global Fixed Income and Head of Global Asset Allocation, Rick Rieder.
Inflation concerns persist as the U.S. Bureau of Labor Statistics gears up to unveil the April Consumer Price Index (CPI) data on May 15. The projections suggest that April’s CPI could range between 3.3% and 3.4%, the figures could amplify worries about inflation running higher than the Federal Reserve’s target
Investors are waiting anxiously for important economic data to help them navigate the volatile cryptocurrency market. Important data, such as the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI), is set to be released soon and might affect market dynamics, especially given the current gloomy sentiment in the
