Biden Appoints New Fed Vice Chair as Fedwatch Tool Shows Slim Chance of Rate Hike at June Meeting – Economics Bitcoin News
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Investors believe it is highly likely that the target rate will remain unchanged at the June 14 Federal Open Market Committee (FOMC) meeting, following the U.S. Federal Reserve’s decision to increase the federal funds rate by 25 basis points on May 3. As the battle against inflation in the U.S. rages on, the Biden administration appointed Philip Jefferson as the new vice chair to replace Lael Brainard. The American president stated that his nominees will play a “crucial role” in maintaining price stability and overseeing the country’s financial institutions. Fedwatch Tool Points to Low Chance of Rate Hike Just over
Fed expected to keep rates low despite Trump’s pressure and economic uncertainties. Q2 GDP forecast shows a 2.4% rebound, but consumer spending remains historically weak. July jobs report may display slower hiring with unemployment possibly rising to 4.2%. The U.S. financial markets are waiting for a series of events as…
The Chamber of Digital Commerce, a blockchain and crypto advocacy group, has urged U.S. President Joe Biden to assist in securing the release of a Binance executive “kidnapped” by the Nigerian government. The group warned that the Nigerian government’s arbitrary detention of Tigran Gambaryan might establish a dangerous precedent. Questioning…