Could the Fed Raise Interest Rates Higher, CZ Bulllish, Solana Phone?  BIG NEW!

Could the Fed Raise Interest Rates Higher, CZ Bulllish, Solana Phone? BIG NEW!

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2022-09-12 21:11:44

Market situation

The stock market rose slightly on all three indexes while the Fed was conducting a hearing before Congress. Stock futures show an uptrend. Oil remained at $104/barrel. Gold price moved sideways around 1820 USD/ounce.

Bitcoin is still hovering around $20,000, yesterday there was a time when it increased to $21,000. Altcoins also rose slightly.

The Fed said that, if faced with a financial storm, the big US banks can also weather it. This announcement is made after the annual health checks of the lenders. According to this survey, the Fed said that 34 banks and loan applications with assets of more than 100 billion USD could lose 612 billion USD if a recession occurs. However, banks such as JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Morgan Stanley and Goldman Sachs can use their excess capital to issue dividends and buybacks to shareholders.

During the hearing, the Fed also answered questions related to interest rates. Up to now, the Fed has no longer denied the risk of a financial crisis. And the Fed will continue to raise interest rates and may increase interest rates by 1% after the July meeting depending on the situation.

The Fed’s tools are interest rates and bonds to influence the economy as well as inflation. In addition, there are many factors beyond the control of the Fed such as wars, political tensions, epidemics, etc., which greatly affect the economy. So the solution of the Fed at this time can only increase interest rates, tighten money sources to reduce inflation.

In the face of a difficult economic situation and a drop in user subscriptions, Netflix has continued to lay off about 300 employees across the company. As such, Netflix has cut its total staff by 3%. Netflix also warned investors in April that it would reduce some of its spending growth over the next two years.

Elon Musk said Tesla’s factories in Texas and Berlin are losing billions of dollars right now as supply chain disruptions hinder the company’s ability to ramp up production.

Some other information:

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