Market Talk – October 31, 2024
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 196.14 points or -0.50% to 39,081.25 • Shanghai increased 13.59 points or 0.42% to 3,279.82 [...]
Fed Rates Up into 2024?
Federal Reserve Chairman Jerome Powell has made it clear that he sees higher interest rates ahead in his battle against inflation and their unrealistic 2% target. Many traders are now scrambling talking about how Powell said the Fed will probably raise rates more and possibly faster than previously anticipated. They are now taking that as a warning he may do a 50-bp hike this month. Our computer projected a Directional Change in 2022 and everything is on schedule for the rise into 2024.
Powell also restated his warnings to US banks about the risks of getting involved in the crypto industry. He expressed very clearly that lenders must take “great care” when engaging with cryptocurrencies. He added that the central bank didn’t want to prevent innovation, but it is not bullish on this industry and views it more like the DOT.COM Bubble.
The post Fed Rates Up into 2024? first appeared on Armstrong Economics.
Latest Posts
PRIVATE BLOG – Gold Into the Election
PRIVATE BLOG – Gold Into the Election Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com. https://ask-socrates.com/
Will the Next Pandemic Come Before World War III?
The US, Mexico, and Canada are developing a cohesive framework to prepare for the next pandemic. The North American Preparedness for Animal and Human Pandemics Initiative (NAPAHPI) “recognizes that the high degree [...]
US GDP Rose 2.8% in Q3
According to data provided by the Commerce Department, the US economy grew 2.8% during Q3, beneath expectations of a 3.1% increase. GDP has slowed from the 3% posting during Q2. [...]
