Economy News

A well-known economist who previously forecasted signs of economic strain in the U.S. by mid-2024 now anticipates a severe collapse in the cryptocurrency market.

As the Federal Reserve maintains its policy interest rate at a 23-year high of 5.25%-5.50%, anticipation builds for a potential rate cut in September.

Central banks across many developing nations are increasingly moving their reserves into gold and local currencies, reducing their reliance on the U.S. dollar.

The US Consumer Price Index (CPI) report for July, due on August 14, is expected to show a rise, which could influence the Federal Reserve’s upcoming rate decisions.

Many analysts on Wall Street are predicting that the Federal Reserve might implement its first interest rate cut in September, based on the CME FedWatch tool.

Concerns about a potential US recession have intensified following a global stock market drop and a weaker-than-expected jobs report.

JPMorgan Chase CEO Jamie Dimon recently commented on the US economy, saying that it has “not entered a recession at all” despite the market volatility seen this week.