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Determine the reasons for Bitcoin's rise to record levels
money and business
Economy News - follow up
Bitcoin's record rise could lead the US Federal Reserve to delay planned interest rate cuts later this year, according to JP Morgan.
Bitcoin's rise above $60,000, coupled with record highs for stocks, suggests a bubble is starting to build in risk assets, strategist Marko Kolanovic said in a recent note.
This bubble could eventually prompt the Fed to postpone planned interest rate cuts, which are often a catalyst for risky assets, because they could unleash another round of inflation.
“This could keep monetary policy tight for longer, as premature rate cuts threaten to inflate asset prices further or cause another spike in inflation,” Kolanovic said.
The market currently expects the Fed to cut interest rates at least three times in 2024, with the first rate cut occurring in June, according to the CME FedWatch tool.
With most of the stock market's rise since October driven by expectations of taming inflation and lower interest rates, further delays in the Fed's planned interest rate cuts could cast a shadow over the stock market's upward trajectory...
Views 68
Added 03/09/2024 - 8:02 AM
https://economy-news.net/content.php?id=41267
money and business
Economy News - follow up
Bitcoin's record rise could lead the US Federal Reserve to delay planned interest rate cuts later this year, according to JP Morgan.
Bitcoin's rise above $60,000, coupled with record highs for stocks, suggests a bubble is starting to build in risk assets, strategist Marko Kolanovic said in a recent note.
This bubble could eventually prompt the Fed to postpone planned interest rate cuts, which are often a catalyst for risky assets, because they could unleash another round of inflation.
“This could keep monetary policy tight for longer, as premature rate cuts threaten to inflate asset prices further or cause another spike in inflation,” Kolanovic said.
The market currently expects the Fed to cut interest rates at least three times in 2024, with the first rate cut occurring in June, according to the CME FedWatch tool.
With most of the stock market's rise since October driven by expectations of taming inflation and lower interest rates, further delays in the Fed's planned interest rate cuts could cast a shadow over the stock market's upward trajectory...
Views 68
Added 03/09/2024 - 8:02 AM
https://economy-news.net/content.php?id=41267
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