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U.S. Economy

Fed Slashes Benchmark Interest Rate by 50bps in First Cut Since 2020

Fed Slashes Benchmark Interest Rate by 50bps in First Cut Since 2020On Wednesday, the U.S. Federal Reserve lowered its benchmark interest rate for the first time since March 2020. The Sept. 18, 2024 rate cut amounted to 50 basis points (bps), a notably bigger adjustment than many analysts anticipated. According to the Federal Open Market Committee (FOMC) press release, the central bank remains focused on reaching […]

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Recession Concerns Ignite Amid US Economic Slowdown and Market Volatility

Recession Concerns Ignite Amid US Economic Slowdown and Market VolatilityIn recent weeks, both economists and technical indicators have hinted that the U.S. may be on the brink of a recession, causing anxiety to ripple through the markets. Meanwhile, over on X, the topic of recession is gaining more traction by the day, with users discussing the likelihood of an economic downturn. Social Media Buzzes […]

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Bitcoin Sinks 3% as Markets Brace for Friday’s Jobs Report, Gold Climbs

Bitcoin Sinks 3% as Markets Brace for Friday’s Jobs Report, Gold ClimbsOn Thursday, the crypto market mirrored the stock market’s downturn ahead of Friday’s anticipated U.S. jobs report. All major U.S. stock indices slipped into the red, with bitcoin (BTC) tumbling 3.6% in the past 24 hours. Meanwhile, gold enjoyed a nearly 1% gain, climbing back above the $2,500 per ounce mark. Recession Fears Loom as […]

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Government Overspending Puts US in the ‘Fast Lane to Bankruptcy,’ According to Elon Musk

Government Overspending Puts US in the ‘Fast Lane to Bankruptcy,’ According to Elon MuskIn recent times, Elon Musk, the owner of X and the CEO and product architect at Tesla, Inc., has been voicing his concerns about inflation. This discussion became especially prominent after he interviewed former U.S. President Donald Trump. Just two days ago, Musk took to X, declaring that the United States is “in the fast […]

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Polymarket Bets 10% on 2024 US Recession, Analyst Skeptical of Rate Cut’s Impact

Polymarket Bets 10% on 2024 US Recession, Analyst Skeptical of Rate Cut’s ImpactThe prediction market Polymarket and CME’s Fedwatch tool suggest that a rate cut during the Federal Open Market Committee (FOMC) meeting in September is highly likely. However, BCA Research’s chief asset allocation strategist, Garry Evans, argues that even if rates are lowered, it won’t stop a recession in the United States. On the flip side, […]

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Fedwatch Tool and Polymarket Indicate Strong Odds for September Rate Cut

Fedwatch Tool and Polymarket Indicate Strong Odds for September Rate CutRight now, the market is leaning towards the U.S. Federal Reserve lowering the benchmark interest rate at the Sept. 18, 2024, Federal Open Market Committee (FOMC) meeting. The CME Fedwatch tool currently indicates a 75% likelihood of a 25-basis-point (bps) rate cut. Over on Polymarket, bettors are even more confident, showing an 82% chance of […]

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Robert Kiyosaki Advises Preparing for Crash Landing — Says ‘Time to Save Yourself’

Robert Kiyosaki Advises Preparing for Crash Landing — Says ‘Time to Save Yourself’Rich Dad Poor Dad author Robert Kiyosaki has explained why he is preparing for a crash landing. He criticized U.S. leadership, including Vice President Kamala Harris, Treasury Secretary Janet Yellen, and Fed Chairman Jerome Powell, calling them “3-Stooges.” Kiyosaki advised his followers to invest in gold, silver, and bitcoin, emphasizing self-reliance over relying on the […]

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