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Peter Schiff reports $ETH has fallen under $4K, losing 20% since August highs, and cautions that Bitcoin could be next in line.
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FED WILL RELEASE INITIAL JOBLESS CLAIMS REPORT AT 8:30 AM TODAY. EXPECTATIONS: 223K ALL EYES ON THE FED👀
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Today's FOMC meeting just changed everything. The Fed announced 25 BPS as expected, but then the real announcement happened. The Fed said that it'll start buying T-bill from 12th December. For now, it'll be $40 billion/month, but here's something even more interesting. Powell said that T-bill buying will remain elevated for a few more months. On 1st December, the Fed ended QT, and now the Fed has started to provide liquidity. Along with that, Powell also said that US economic growth is expected to rise in 2026. This means ISM will probably go over 50 next year, which is one of the best Altseason signals. Powell also mentioned that the rate hike is off the table, which means either a rate cut or pause could happen. Powell also talked about rising inflation, but he also said that the labor market is very weak. Also, Powell hinted that the interest rate is now in a neutral zone which means there won't be more rate cuts anytime soon. Along with that, the Fed liquidity announcement was not QE as it will be buying short duration bonds. Overall, this meeting seemed a bit hawkish due to rate cut pause and no QE.
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The Federal Reserve has cut interest rates by 25 basis points.
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💥BREAKING: The Federal Reserve cuts interest rates by 25 bps
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💥BREAKING: The Federal Reserve cuts interest rates by 25 bps
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