Search Results for: jerome powell

Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet

by

Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially…

Economist Peter Schiff Warns of Stagflation in US Economy — Says ‘It’s Going to Get Worse’

by

Economist Peter Schiff has warned that the U.S. economy is facing stagflation and the situation is going to get worse. “Not only is the economy weakening, but inflation is strengthening,” he stressed, emphasizing: “You have the worst of both worlds.” U.S….

G7 to Discuss More Crypto Regulation and How to Help Developing Nations Introduce Central Bank Digital Currencies

by

The G7 countries are discussing more crypto regulation and ways to help developing nations introduce central bank digital currencies (CBDCs). “As a priority of this year, the G7 will consider how best to help developing countries introduce CBDC consistent with appropriate…

Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’

by

Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit…

Billionaire ‘Bond King’ Jeffrey Gundlach Expects Fed to Raise Rates Next Week — ‘That Would Be the Last Increase’

by

Billionaire Jeffrey Gundlach, aka the “Bond King,” expects the Federal Reserve to raise interest rates at its March meeting next week, which “would be the last increase,” he said. In addition, Gundlach cautioned: “The inflationary policy is back in play with…

Silicon Valley Bank Faces Financial Woes as Stock Is Halted, Sells $21 Billion Bond Portfolio at a $1.8 Billion Loss

by

On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8…

Fed Chair Powell on Crypto: We See Turmoil, Fraud, Lack of Transparency, Run Risk

by

Federal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk…

Bank of America, Goldman Sachs, JPMorgan, UBS Share Predictions About Further Fed Rate Hikes

by

Bank of America, Goldman Sachs, JPMorgan, and UBS have shared their predictions about the Federal Reserve raising interest rates further. Bank of America and Goldman Sachs, for example, now expect the Fed to raise interest rates three more times this year….

Bitcoin, Ethereum Technical Analysis: ETH Nears $1,700, Fed Prepared to Maintain Rate Hikes

by

Ethereum closed in on the $1,700 level on Wednesday, as markets reacted to comments from U.S. Federal Reserve Chair Jerome Powell. Speaking after Tuesday’s session, Powell hinted that the Fed could continue to hike rates, should the data show the need…

Uncertainty Surrounds Federal Reserve’s Future Plans for Rate Hikes

by

The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down…