Economy News

Bitcoin and other cryptocurrencies experienced significant declines after Federal Reserve Chairman Jerome Powell made hawkish remarks, signaling a continued tight monetary policy.

The Federal Reserve has implemented a widely anticipated 25-basis-point interest rate cut, marking the third and final reduction for 2024.

China is gearing up for 2025 with its most expansive fiscal plan, raising the budget deficit to a record 4% of GDP to counter domestic challenges and looming trade tensions with the U.S.

Jerome Powell and the Federal Reserve are facing significant pressure from the market, with investors betting on an imminent rate cut following recent inflation reports.

Although inflation showed limited improvement in November, futures contracts for federal funds suggest a nearly certain 25 basis point rate cut at the Federal Reserve’s meeting on December 17-18, according to analyst Megan Leonhardt.

The Federal Reserve is expected to approach rate cuts cautiously in 2025, with plans to end its quantitative easing cycle by mid-year, according to Bill Adams, chief economist at Comerica Bank.

The market is closely watching the U.S. Federal Reserve, with many speculating on a potential rate cut in the near future.