Stay updated with breaking news from June Fed. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
It is a sign of the perversity of the capitalist economy, dominated by financial octopuses, that the prospect of recession, spelling more economic hardship for billions of workers all over the world, is regarded as “good news” by the stock markets.
Last month, when the Fed hiked 75 bp instead of the 50 it had signaled, Chair Powell cited the unexpectedly strong CPI and elevated University of Michigan consumer inflation expectations.
This was a short but wild week in which we made no moves, but saw some welcome advances in many of our holdings....AMD
Today we’ve got comments from the Fed that are surprisingly supportive of stablecoins – and data that’s NOT so supportive of Ethereum (ETH-USD). Plus some fun new NFT offerings.
"I think there's a lot more downside to go," says Jon Wolfenbarger, founder of Bullandbearprofits.com.