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Mad MaxxðŸŽðŸ”¥
@makst552
Daily digest market movers: Bitcoin holds $50,000 as Jeremy Siegel calls for emergency rate cuts. Jeremy Siegel, a finance professor and chief economist, has urged an emergency 75 basis point cut in the Fed funds interest rate in response to the recent market downturn, stressing the need for immediate action and proposing an additional cut next month to better align with the Federal Reserve's (Fed) inflation and employment targets, while criticizing the Fed's slow response as a major policy misstep that could exacerbate negative market reactions. "I'm calling for a 75 basis point emergency cut in the Fed funds rate, with another 75 basis point cut indicated for next month at the September meeting - and that's minimum," says Wharton's Jeremy Siegel With the likelihood of a 50 basis point rate cut in September rising to 98.5%.
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