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” Macroeconomic data points toward intensifying pain for crypto investors in 2023 “ Undoubtedly, 2022 was one of the worst years for Bitcoin (BTC) buyers, primarily because the asset’s price dropped by 65%. While there were some explicit reasons for the drop, such as the LUNA-UST crash in May and the FTX implosion in November,…
“Dow jumps as December jobs report eases rate worries” Wall Street’s main indexes closed higher on Friday on news that while US payrolls expanded more than expected, wage increases slowed and services activity contracted, easing worries about the Federal Reserve’s interest rate hiking path. The Dow Jones Industrial Average soared 700.53 points, or 2.1%, to 33,630.61,…
“US job growth solid in December; unemployment falls to 3.5%” The U.S. economy maintained a strong pace of job growth in December, with the unemployment rate falling to 3.5%, but higher borrowing costs as the Federal Reserve fights inflation could see the labor market momentum slowing significantly by mid-year. Nonfarm payrolls increased 223,000 last month, the Labor…
“Dow slides on hot jobs data, hawkish Fed comments” Wall Street’s main indexes closed more than 1% lower on Thursday as fresh evidence of a tight labor market ate away at any hopes investors had that the Federal Reserve could pause its rating hiking cycle anytime soon as it keeps focused on inflation. The Dow Jones…
“Neel Kashkari sees Fed’s target interest rate peaking at 5.4%” The Federal Reserve should continue hiking interest rates at its next few meetings at a minimum until it is sure that inflation has peaked, Minneapolis Fed President Neel Kashkari said on Wednesday, as he set out his own forecast that the policy rate should initially pause at…
“Fed officials agreed on smaller December rate hike: minutes” All officials at the Federal Reserve’s Dec. 13-14 policy meeting agreed the central bank should slow the pace of its aggressive interest rate increases, allowing them to continue increasing the cost of credit to control inflation but in a gradual way meant to limit the risks to…
“Job openings stayed high in November in blow to Fed” US job openings slipped in November but remained high, suggesting businesses are still determined to add workers, a blow to the Federal Reserve’s efforts to cool hiring and wage gains. There were 10.46 million job vacancies on the last day of November, down slightly from a…
“‘Big Short’ investor Michael Burry warns ‘another inflation spike’ is coming” Hedge fund wizard Michael Burry kicked off the new year with another dire prediction about the US economy, warning this week that a recession is already underway and another spike in inflation is likely in the near future. Burry, the CEO of Scion Asset…
” Erik Voorhees tips $40K BTC by June, but little consensus among pundits “ There is little agreement among Bitcoin’s commentators over the last few weeks, with crypto execs, research analysts and billionaire investors offering wildly different takes on what’s in store for Bitcoin for the year ahead. One crypto exchange founder expects Bitcoin (BTC)…
“Will the Fed blink in 2023 and extend our economic agony?” We Americans can foresee two significant economic risks in 2023. The first one is a probability that the Federal Reserve will get weak-kneed and stop raising interest rates before inflation is truly under control. The second risk is that Congress will continue to spend…