JPMorgan CEO Jamie Dimon has reiterated his supposed skepticism of bitcoin, recently calling it a “fraud fad” and “pet rock”. For its part, Bank of America said it sees central bank digital currencies (CBDCs) and stablecoins as a “natural evolution of today’s monetary and payment systems.” This and more on inflation and the US Federal Reserve’s upcoming moves, just below.
JPMorgan CEO Jamie Dimon Calls Bitcoin a ‘High-Voltage Fraud’ – Expects Satoshi Nakamoto to Rise BTC Supply Cap
JPMorgan Chase CEO Jamie Dimon calls bitcoin a “fashionable fraud”. The executive questioned the cryptocurrency supply cap, expecting a photo of pseudonymous bitcoin creator Satoshi Nakamoto to appear and laugh at us all when bitcoin supply reaches 21 million pieces.
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Morgan Stanley CEO says inflation has peaked and China has made a major pivot
Morgan Stanley CEO James Gorman said two changes have happened recently that “really matter” for the economy. The executive explained that inflation had clearly peaked and China had made a “major pivot” economically.
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Bank of America: “Digital currencies seem inevitable”
Bank of America says “digital currencies seem inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of today’s monetary and payment systems.” The bank expects “private sector beneficiaries to emerge at all phases of CBDC implementation.”
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All eyes are on the next Fed meeting: Market paths hinge on decision
Stocks, precious metals, and cryptocurrencies have crashed in the final weeks of 2023, and all eyes are now on the upcoming Federal Open Market Committee (FOMC) meeting. Federal Reserve Governor Christopher Waller recently said he favors a quarter-point hike in the benchmark rate at the next FOMC meeting. Analysts believe that the market’s current trajectories will depend on the outcome of the next Fed meeting.
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