Factbox-Wall Street sees bigger 2024 Fed easing after soft jobs report
A surprisingly weak U.S. employment report for June has turned Wall Street confidence on a soft landing into near panic that a recession is looming, prompting major firms to change forecasts for Federal Reserve easing this year to more aggressive interest rate cutting. Employers added just 114,000 jobs in July, the U.S. Labor Department reportedon Friday, and the unemployment rate rose to 4.3%, from 4.1% in June, marking an unexpected deterioration in a labor market that had held up surprisingly well during the Federal Reserve's aggressive rate-hike campaign in 2022 and 2023.
JPMorgan, Citi See Fed Dealing Two Supersized Cuts This Year
(Bloomberg) -- Wall Street banks are calling for aggressive interest-rate cuts by the Federal Reserve based on the latest evidence that the labor market is cooling. Most Read from BloombergSinger Akon’s Multibillion-Dollar Futuristic City in Africa Gets Final NoticeValencia Follows Barcelona in Crackdown on Short-Term RentalsWhat a Beautiful Bus Stop Can DoA Vast Wetland Park Seeks to Slake a Thirsty MegacityUber and Lyft Strike NYC Deal to Scale Back Driver LockoutsEconomists at Bank of America
As Trump Suggests Crypto as a Fix to U.S. Debt, Harris Camp Highlights His Remarks
Former President Donald Trump heaped more praise on the "very, very smart people" of the crypto industry in an interview broadcast on Friday, suggesting that the U.S. embracing Bitcoin {{BTC}} could aid in addressing the $35 trillion U.S. national debt. Though Vice President Kamala Harris, his presumptive Democratic opponent in the presidential race, hasn't yet made any policy statements about her own view on cryptocurrency, one of her campaign accounts on X – the "rapid response" campaign effor
Inside Senator Lummis' groundbreaking bill for a U.S. bitcoin reserve
The bitcoin bill seeks to establish a reserve, highlighting the U.S.'s commitment to cryptocurrency leadership.
Inside Senator Lummis' groundbreaking bill for a U.S. bitcoin reserve
The bitcoin bill seeks to establish a reserve, highlighting the U.S.'s commitment to cryptocurrency leadership.
Oil Falls to Seven-Month Low as Demand Fears Overwhelm War Risks
(Bloomberg) -- Oil slumped to the lowest in almost seven months as concerns about demand in the world’s two biggest economies overshadowed heightened geopolitical risk.Most Read from BloombergSinger Akon’s Multibillion-Dollar Futuristic City in Africa Gets Final NoticeValencia Follows Barcelona in Crackdown on Short-Term RentalsWhat a Beautiful Bus Stop Can DoA Vast Wetland Park Seeks to Slake a Thirsty MegacityUber and Lyft Strike NYC Deal to Scale Back Driver LockoutsBrent crude slid 3.4% to s