Economy News

The cryptocurrency market enters a crucial phase this week, with key macroeconomic updates and a significant crypto options expiry set to shape investor sentiment.

Donald Trump’s proposed tariffs, ranging from 10% to 20% on all imports and up to 100% on Chinese goods, are poised to throw the U.S. economy into turmoil by 2026, warns Seth Carpenter, Morgan Stanley’s chief global economist.

The Pentagon’s latest financial audit has once again exposed significant mismanagement, with the Department of Defense (DoD) unable to account for $824 billion.

European stocks are experiencing their worst underperformance relative to the S&P 500 in nearly 30 years, with the U.S. index up over 25% while the Stoxx 600 has gained only 5%.

Bitcoin’s recent momentum appears to be waning after fresh U.S. inflation data and Federal Reserve Chair Jerome Powell’s remarks on the outlook for interest rates.

This week’s October inflation data suggests that the Federal Reserve may face a challenging path to reaching its 2% inflation target, possibly impacting rate cuts planned for 2025.

The US economy continues to show mixed signals, as new data was released today regarding the Producer Price Index (PPI) and unemployment claims.

The U.S. CPI data for October has been released, showing steady inflationary trends in both the annual and monthly figures.

On Tuesday, an unexpected announcement sent Dogecoin prices soaring, turning a popular meme-driven narrative into a real-life initiative.

Peter Schiff, a well-known critic of Bitcoin, has strongly opposed the idea of the United States creating a Bitcoin reserve, a proposal gaining traction with the potential re-election of former President Donald Trump.

The world’s governments are facing an urgent financial challenge, with massive debt coming due in the coming years.

Federal Reserve Chairman Jerome Powell’s recent comments indicate a potential clash with President-elect Donald Trump.

On November 8, China unveiled a major stimulus plan, allowing local governments to issue an additional $827.7 billion in bonds over the next three years to address rising “hidden debt.”

The Federal Reserve has decided to lower its key policy rate by a quarter percentage point following its latest policy meeting.

As Donald Trump is projected to win the U.S. presidency, financial markets are bracing for significant shifts.

The Federal Reserve is widely expected to lower interest rates this Thursday, marking its second rate reduction in just a few months.

With Donald Trump’s anticipated return to the presidency, global markets are bracing for an era of high tariffs that could rival protectionist policies from the 1930s.

As Donald Trump claims victory in the 2024 U.S. Presidential Election, the Republican Party is on track to secure substantial gains in Congress.

Kremlin spokesperson Dmitry Peskov has stated that he is unaware of any plans by President Vladimir Putin to congratulate Donald Trump on his lead in the U.S. presidential race, emphasizing that the U.S. is considered an unfriendly nation.

In a recent blog post, Shytoshi Kusama, the masked lead developer of SHIB, proposed the creation of a Strategic Hub for Innovation and Blockchain (S.H.I.B.) in a U.S. city, aimed at revolutionizing blockchain technology in the country.

On Monday, the US dollar weakened by 0.3% against major currencies, while Treasury yields rose as investors adjusted their expectations for the presidential election, particularly regarding Donald Trump.

With the 2024 U.S. presidential election drawing closer, the Federal Reserve and its chairman, Jerome Powell, are facing significant potential changes.

Chamath Palihapitiya, billionaire venture capitalist, argues that the U.S. economy may not be as healthy as it appears, suggesting that government spending has driven much of the growth seen in recent years.

The ‘Roaring Twenties,’ characterized by wealth and urban migration, ended abruptly as economic troubles emerged, particularly in Europe and the U.S. Scholars attribute this downturn to the Federal Reserve’s decision to cut the money supply, leading to a decline in economic output.

China is reportedly exploring a significant economic stimulus initiative aimed at rejuvenating its struggling economy.

According to many market analysts, the Federal Reserve may be preparing to cut interest rates by a quarter point next week.

The Bank of Japan (BOJ) has chosen to hold its benchmark policy rate steady at 0.25% amid political uncertainties following Japan’s recent election.

Recent US employment data indicates a modest increase in non-farm payrolls, which rose by only 12,000 in October, significantly lower than the expected 110,000.

In September, personal income in the U.S. rose by $71.6 billion, reflecting a monthly increase of 0.3%, as reported by the U.S. Bureau of Economic Analysis.

JPMorgan Chase’s CEO, Jamie Dimon, has raised alarms regarding escalating conflicts in Ukraine and the Middle East, as well as the increasing collaboration among U.S. adversaries such as Russia, China, North Korea, and Iran.

Howard Lutnick, CEO of Cantor Fitzgerald, has endorsed Donald Trump as the best candidate for America’s wealthy, praising his commitment to American workers, economic growth, and support for cryptocurrency alongside tariff implementation.

The Federal Reserve’s November 6-7 meeting is expected to determine the course of interest rates, with key inflation and employment data likely shaping the outcome.

As the U.S. presidential election approaches, JPMorgan Chase CEO Jamie Dimon has again refrained from endorsing any candidate during his recent trip to Washington, D.C.

Former Goldman Sachs chief economist Jim O’Neill, commenting on the potential of a common BRICS currency.The 16th BRICS summit, held in Kazan, Russia, concluded on Thursday and was marked by several important discussions and announcements.

In a surprising move, the Bank of Canada announced its fourth consecutive interest rate reduction on Wednesday, dropping the key rate by 50 basis points to 3.75%.

China’s recent economic policies are unlikely to significantly boost its struggling economy, according to Haibin Zhu, chief China economist at JPMorgan Chase.

Global inflation is anticipated to decline to 3.5% by the end of 2025, largely due to a resilient global economy, as reported by the International Monetary Fund (IMF).

Billionaire hedge fund manager Paul Tudor Jones has raised concerns about the unsustainable rise in U.S. debt and its potential to trigger inflation.

The effect of US economic data on cryptocurrencies, especially Bitcoin, is becoming more and more obvious.

China’s economic growth for Q3 2024 fell short of government expectations, with a GDP increase of 4.6%, down from 4.7% in the previous quarter.

As inflation in the U.S. approaches the Federal Reserve’s target of 2%, the Fed implemented its first rate cut in September, reducing rates by 50 basis points.

The European Central Bank (ECB) has reduced its main interest rate for the third time this year, cutting it from 3.5% to 3.25%.

In 2024, fears of a looming recession have been a key issue for investors, but those worries are now waning.

Analysts from two of the largest U.S. banks foresee an imminent interest rate cut from the Federal Reserve.

The International Monetary Fund (IMF) forecasts that global public debt will reach $100 trillion by year-end, equating to about 93% of total GDP, primarily driven by excessive spending from the U.S. and China.

The U.S. government recently allocated nearly $1 trillion just to cover the interest on its escalating national debt.

JPMorgan CEO Jamie Dimon has issued a stark warning about the looming threat of a global recession, even as he continues to criticize Bitcoin and other cryptocurrencies.

Just now, the BLS released the latest inflation data and things are looking good for the U.S. economy.

Financial educator and author Robert Kiyosaki has raised alarms about the state of the U.S. economy, warning that the nation, despite its status as the largest global economy with a GDP of around $29 trillion, is on a downward path.

The cryptocurrency landscape, particularly Bitcoin, tends to respond to significant economic indicators from the U.S. as traders adapt their strategies to align with macroeconomic trends.

One of the most important U.S. economic metrics, the jobs report, was just released by the Bureau of Labor Statistics.

Thomas Barkin, President of the Richmond Fed, emphasized the importance of monitoring economic indicators and inflation trends to guide future interest rate adjustments.

U.S. Federal Reserve Chair Jerome Powell envisions a shift toward a more “neutral stance” in future monetary policy.

On Tuesday, cryptocurrency values experienced a downturn, with Ethereum dipping below the $2,500 mark amid rising geopolitical tensions triggered by Iran’s missile strikes on Israel.

Jrome Powell, Chair of the US Federal Reserve, continues to express optimism about achieving the inflation target of 2%.

Economists are now anticipating a 0.25% interest rate reduction from the European Central Bank (ECB) in October, moving away from prior predictions of a cut in December.

On Tuesday, Pan Gongsheng, the Governor of the People’s Bank of China, revealed a set of economic stimulus measures, marking what some economists view as the central bank’s largest intervention since the Covid-19 pandemic.

Over the past eight years, Bitcoin’s price has shown a consistent positive correlation with the People’s Bank of China’s (PBOC) balance sheet.

Arthur Hayes, co-founder of BitMEX, believes that the quantitative easing (QE) policies being implemented by various governments will have a positive impact on Bitcoin and the overall crypto market.

A prominent cryptocurrency analyst believes the digital assets market will remain strong even if the Federal Reserve reduces interest rates.