Weekend macro review: The Federal Reserve boldly opened the curtain of interest rate cuts by 50 basis points, and Trump was suspected of another assassination attempt

avatar
PANews
09-21
This article is machine translated
Show original

PANews reported on September 21 that there were several noteworthy macro events this week, which are summarized as follows:

1. The Fed boldly opened the interest rate cut with a 50 basis point rate cut. The Fed opened the interest rate cut cycle with a 50 basis point rate cut, which is the first rate cut in the United States since March 2020. The dot plot shows that the Fed will cut interest rates by another 50 basis points this year and another 100 basis points next year, while Director Bowman voted for a 25 basis point rate cut. JPMorgan Chase correctly predicted that the Fed would cut interest rates by 50 basis points this week, and the bank's chief US economist Michael Feroli insisted that there would be another 50 basis point cut in November, but it also depends on the results of the upcoming employment report. Goldman Sachs believes that the threshold for the Fed to increase interest rate cuts is low because the latest expectations for unemployment and PCE are very close to current levels. The bank expects to continue to cut interest rates by 75 basis points this year.

2. Trump is suspected of another assassination attempt. On the 15th local time, a shooting occurred near the golf club owned by former US President Trump in West Palm Beach, Florida. According to law enforcement sources, agents found a man carrying an AK-47 rifle near Trump's golf course. The Secret Service then exchanged fire with the suspect and fired at least 4 shots. But it is not clear whether the suspect fired a shot. Musk responded to the question of "Why did they assassinate Trump?" from a community user on the social media platform "X" and said that no one tried to assassinate Biden or Harris, and added a "thinking" emoticon. US Vice President Harris said that I am deeply disturbed by the possible assassination attempt against Trump today.

3. The number of initial jobless claims in the United States for the week ending September 14 was 219,000, in line with expectations of 230,000, and the previous value was revised to 231,000.

4. Trump used BTC for cryptocurrency transactions for the first time. Republican presidential candidate Donald Trump used Bitcoin to buy a cheeseburger at PubKey Bar in New York City, which is considered his first transaction with Bitcoin. Trump called it a "historic moment." The official X account of PubKey Bar released the news and mentioned that the transaction occurred at block height 861871. Trump then distributed burgers to bar customers, calling them "crypto burgers." Earlier this week, Trump helped launch World Liberty Financial, a decentralized financial project that his family members have been developing.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments