JPMorgan CEO Jamie Dimon recently reiterated his skepticism, calling bitcoin a “hype scam” and a “pet rock.” Bank of America, on the other hand, said it sees central bank digital currencies (CBDCs) and stablecoins as “the natural evolution of today’s currency and payment systems.” More on inflation and the Federal Reserve’s next move is just below.
JPMorgan CEO Jamie Dimon Calls Bitcoin a “Hype Scam” – Expect More Satoshi NakamotoBTC
JP Morgan Chase CEO Jamie Dimon calls bitcoin a “hyped-up scam.” The executive questioned the cryptocurrency’s supply cap and expects pictures of Bitcoin pseudonym creator Satoshi Nakamoto to pop up and laugh at us all when the supply of Bitcoin reaches 21 million coins.
Read more
Morgan Stanley CEO Says Inflation Has Peaked and China Has a Big Axis
Morgan Stanley CEO James Gorman recently said “really important” changes for the economy He said two “really important” changes have occurred recently. The executive explained that inflation has clearly peaked and China has made a “big, big pivot” economically.
Read more
Bank of America: “Digital Currencies Will Inevitably Emerge”
Bank of America said “digital currencies seem inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of today’s currency and payment systems.” The bank expects “private sector beneficiaries to emerge in all phases of CBDC implementation.”
Read more
Watch for Next Fed Meeting. Market trajectory will depend on the decision
With stocks, precious metals, and cryptocurrencies on a roll in the final weeks of 2023, all eyes are on the next Federal Open Market Committee (FOMC) meeting. Federal Reserve President Christopher Waller recently stated that the next FOMC meeting should raise the benchmark interest rate by a quarter percentage point. Analysts believe the current market trajectory will depend on the outcome of the next Fed meeting.
Read more
Image Credit: Shutterstock, Pixabay, Wiki Commons