JD Foster: A Fed That Relies on Data Is Always Behind the Curve
Monetary Policy and Its Challenges There’s been a lot of talk recently about how monetary policy is becoming “data-dependent.” Yet, in his remarks at Jackson Hole, Chair Powell seemed to steer clear of that phrase while emphasizing the importance of “current terms.” Using data to guide decisions might not be the best approach for addressing […]
Ethereum reaches new peak as Fed Chair indicates change in ‘balance of risks’
Cryptocurrency Market Bounces After Powell’s Remarks Jerome Powell sparked a significant surge in the crypto market on Friday. Ethereum, the second-largest cryptocurrency, jumped to over $4,814, reflecting a rise of about 13%. This surge brings it close to its all-time high from November 2021, which was $4,878. Bitcoin, the largest crypto, also saw an increase […]
Fed Drops Inflation Overshoot Approach, Going Back to a More Straightforward Target
The Federal Reserve Changes Inflation Strategy The Federal Reserve announced on Friday that it is stepping away from a key component of its framework established five years ago, specifically discarding its strategy that permitted inflation to modestly exceed 2% under certain conditions. This adjustment, revealed through a revised long-term goals statement and comments from Chairman […]
Trump considers firing Lisa Cook from the Fed due to suspected mortgage fraud.
President Donald Trump has issued a warning to Federal Reserve Governor Lisa Cook, threatening to dismiss her if she does not resign amidst allegations of mortgage fraud. This latest attack on the US central bank follows Trump’s continued criticism over their reluctance to lower interest rates and recent developments regarding significant improvements in Washington, DC. […]
ETH price surge appears as hopes for Fed rate cuts grow: Is $6K Ether on the horizon?
Key Highlights Ethereum (ETH) jumped 13% on Friday after Federal Reserve Chair Jerome Powell hinted at possible interest rate cuts in a speech at Jackson Hole. Both on-chain and technical indicators suggest that ETH could potentially hit $6,000 shortly. On Friday, Ether (ETH) demonstrated impressive strength, rising 13% to $4,788 right after the Wall Street […]
Will Dismiss Fed Governor Lisa Cook If She Fails to Resign Following Mortgage Fraud Claim
Trump Threatens to Fire Fed Governor Over Fraud Allegations On Friday, former President Donald Trump expressed that he would dismiss Federal Reserve Governor Lisa Cook if she doesn’t resign amid allegations of mortgage fraud. “What she did is bad,” Trump remarked to journalists. He continued, stating, “So if she doesn’t resign, I’ll fire her.” Bill […]
Powell discusses changing economic risks in Jackson Hole speech as Fed considers rate reductions
Powell’s Jackson Hole Address Impact on Labor Market and Inflation Federal Reserve Chair Jerome Powell discussed how current labor market conditions and inflation data “seem to shift the balance of risk” as policymakers approach their next interest rate decision scheduled for mid-September. During his speech at the Kansas City Annual Monetary Policy Conference in Jackson […]
Crypto Update: Bitcoin, Ethereum, and XRP’s profits fall ahead of Fed Powell’s speech
Bitcoin struggles as Powell’s speech at the Jackson Hole Symposium approaches, losing its daytime profits. Ethereum shows signs of recovery within a rising channel pattern. XRP faces the risk of testing monthly lows near the $2.75 support area. Bitcoin (BTC) and Ripple (XRP) are finding themselves at crucial points, as profit supply diminishes while technical […]
Powell indicates that the Fed might lower interest rates soon due to the impact of Trump’s policies on the economy.
Federal Reserve Chairman Discusses Economic Uncertainty Federal Reserve Chair Jerome Powell highlighted “significant uncertainty” for central banks as they maneuver through the implications of President Trump’s policies. He mentioned the possibility of lowering fees as the job market begins to show signs of weakness. During his address at the Fed’s annual gathering in Jackson Hole, […]
Australian Dollar remains steady as expectations for a Fed rate cut decrease
The Australian Dollar’s Current Status The Australian Dollar is hovering near its two-month low, recorded at 0.6414 on Thursday. AUD/USD is facing downward pressure as the US dollar gains strength following S&P Global’s US PMI data release. The CME FedWatch tool indicates a 74% likelihood of interest rate cuts occurring in September, down from 82% […]