NEWSLETTER
JPMorgan CEO Jamie Dimon reiterated his alleged skepticism about bitcoin, recently calling it an “overblown fraud” and a “favorite rock.” For its part, Bank of America has said that it views central bank digital currencies (CBDCs) and stablecoins as a “natural evolution of current monetary and payment systems.” This and more on inflation and the next moves by the US Federal Reserve, just below.
JPMorgan CEO Jamie Dimon Calls Bitcoin ‘Exaggerated Fraud’: Expects Satoshi Nakamoto to Rise BTC supply limit
JPMorgan Chase CEO Jamie Dimon calls bitcoin “an overblown fraud.” The executive questioned the cryptocurrency’s supply limit, hoping that a picture of the pseudonymous bitcoin creator Satoshi Nakamoto would appear and laugh at all of us when the bitcoin supply hits 21 million coins.
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Morgan Stanley CEO says inflation has peaked and China has made a major turnaround
Morgan Stanley CEO James Gorman says there have been two changes recently that “really matter” for the economy. The executive explained that inflation has clearly peaked and that China has made a “very, very important turnaround” economically.
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Bank of America: ‘Digital currencies seem inevitable’
Bank of America says that “digital currencies seem inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of current monetary and payment systems.” The bank expects “private sector beneficiaries to emerge in all phases of CBDC implementation.”
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All eyes on the next Fed meeting: market trajectories depend on the decision
Stocks, precious metals, and cryptocurrencies have soared during the final weeks of 2023, and now all eyes are on the upcoming Federal Open Market Committee (FOMC) meeting. Federal Reserve Governor Christopher Waller recently said that he favors a quarter-point rate hike at the next FOMC meeting. Analysts believe that current market trajectories will depend on the outcome of the next Fed meeting.
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What do you think of this week’s stories? Let us know in the comments section.
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