Last week, the Fed cut its federal funds target rate by 50 bps to 5.00% p.a., surprising the markets as expectations were lower before the FOMC meeting.
Despite the surprise 50 bps cut, analysis suggests the Fed still remains behind the curve, as an ideal target rate should be around 3.6% p.a.
According to Bank of America's latest fund manager survey, monetary policy was deemed 'too restrictive' in September 2024, reminiscent of the most restrictive times since October 2008.
While a US recession is looming, our analyses suggest it may not adversely impact bitcoin and other crypto assets as previously thought.
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