During an interview on CNBC, Wharton's Professor Jeremey Siegel, who is also the Chief Economist at WisdomTree calls for 0.75% emergency rate cut by the FED.
He also says that there should be another 0.75% rate cut after the next meeting – and thats a bare minimnum as the rate should be between 3.5% and 4%.
Siegel also mentioned that at the june meeting Fed said when inflation reached 2% and unemployment has come up to 4.2% the long-term federal funds rate should be 2.8%.
The economist stated that last Friday that unemployment target was surpassed and reached 4.3%. The inflation has also dropped 90% from its peak and is near the target. In other words the United States “overshot” the targets.
The Fed wanted these targets to be fulfilled and then they would cut the rates – but they didn’t, which according to Siegel makes absolutely no sense.
Not only the U.S. but other economies are suffering, because of Jerome Powell’s irrational decision making and an emergency rate cut is to be expected, since everything has gotten out of the Fed’s control.
Nvidia’s recent market retreat hasn’t shaken analysts’ confidence in the stock’s long-term potential. Despite a dip to $135.13 at the close of the last session, chart watchers say a powerful setup could send NVDA soaring toward the $200 mark in the coming months.
The team behind Pi Network is diving into the gaming industry with the release of FruityPi, a new application designed to highlight the practical use of its ecosystem tools, including the Pi cryptocurrency, wallet, and ad services.
The FTX Recovery Trust has initiated a new $5 billion round of reimbursements, starting May 30, for creditors who completed the necessary steps.
As Nvidia’s stock continues its upward surge, company executives are preparing to cash in. CEO Jensen Huang is expected to sell up to $800 million worth of shares under a trading plan adopted earlier this year, marking his first such sale of 2025.