SUMMARY OF FED DECISION (9/18/24):
1. Fed cuts interest rates by 50 bps for the first time since 2020
2. Fed sees 2 more 25 basis point rate cuts in 2024
3. One Fed governor dissented for the first time since 2005 in favor of a 25 bps rate cut
4. Fed gained "greater confidence" that inflation is moving to 2%
5. Fed will "carefully assess incoming data" and evolve the outlook
6. Fed sees 100 bps of rate cuts in 2025 and 50 bps of cuts in 2026
1. Fed cuts interest rates by 50 bps for the first time since 2020
2. Fed sees 2 more 25 basis point rate cuts in 2024
3. One Fed governor dissented for the first time since 2005 in favor of a 25 bps rate cut
4. Fed gained "greater confidence" that inflation is moving to 2%
5. Fed will "carefully assess incoming data" and evolve the outlook
6. Fed sees 100 bps of rate cuts in 2025 and 50 bps of cuts in 2026
Japanese public company Metaplanet stock performance after adopting the #Bitcoin strategy.
Key Events This Week:
1. S&P Global Services PMI data - Monday
2. CB Consumer Confidence data - Tuesday
3. August New Home Sales data - Wednesday
4. August Durable Goods Orders data - Thursday
5. Q2 2024 Final GDP Reading - Thursday
6. August PCE Inflation data - Friday
1. S&P Global Services PMI data - Monday
2. CB Consumer Confidence data - Tuesday
3. August New Home Sales data - Wednesday
4. August Durable Goods Orders data - Thursday
5. Q2 2024 Final GDP Reading - Thursday
6. August PCE Inflation data - Friday
Digital asset investment products experienced a second consecutive week of inflows, totaling $321 million. This surge was likely driven by the Federal Open Market Committee's (FOMC) decision to cut interest rates by 50bp.
Bitcoin saw $284m in inflows while Ethereum saw outflows for the 5th consecutive week, totaling $29m
Bitcoin saw $284m in inflows while Ethereum saw outflows for the 5th consecutive week, totaling $29m
JUST IN: BlackRock has purchased 359,279 #Bitcoin worth over $23 billion since January 2024.