Cryptocurrency
In the minutes of the Fed’s January meeting, most officials pointed out the risks of rapid interest rate cuts. Officials have said they want to see more evidence that inflation is coming down to target.
“Definitely not now,” Fed Board Member Michelle Bowman said, explaining why she thinks interest rates shouldn’t be lowered anytime soon.
Nvidia shares rose in futures trading after the company announced stronger-than-expected sales revenue forecast. Nvidia’s positive results and expectations created a positive atmosphere in the markets.
California-based chip manufacturer Nvidia generated revenue above expectations in the last quarter of 2023, driven by strong demand for artificial intelligence chips.
International credit rating agency Standard & Poor’s (S&P) reported that it did not change its 2024 outlook for the US monetary policy, and that it predicts that the US Federal Reserve (Fed) will reduce the policy rate by 25 basis points at its June meeting and by 75 basis points by the end of the year.
Global debts increased by more than $15 trillion last year and reached $313 trillion, breaking a record.
The German government reduced its 2024 growth forecast to 0.2 percent due to effects such as weak global demand, geopolitical turmoil and sticky inflation. Inflation expectation for this year was reduced to 2.8 percent.
GDP in the Organization for Economic Co-operation and Development (OECD) countries grew by 0.4 percent in the last quarter of last year.
Japan’s Nikkei index surpassed its all-time high in 1989; The Bank of Korea kept interest rates steady.
Oil prices continued their rise as signs of tightening in the crude oil market eased concerns about weak demand and kept prices in a narrow range.
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