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Wharton professor Jeremy Siegel, known as the "godfather of the stock market", recently wrote that the Federal Reserve should consider deeper interest rate cuts or risk a recession. Siegel argued in the article that most economic models suggest that Powell should choose the level of the federal funds rate that best suits the economy, rather than focusing on the speed of rate cuts from very restrictive levels.
UBS said it was closely monitoring data on retail sales and industrial production ahead of the Fed's interest rate decision, and that weakness could affect the Fed's decision to cut the federal funds rate by 50 basis points instead of 25 basis points. The bank said US inflation had slowed to the point where it could cut rates. It outlined its "base case" of a 100 basis point cut for the rest of the year and 2025...
Cryptocurrency exchange Kraken has signed a multi-season deal with Tottenham Hotspur (commonly known as "Spurs") to become the team's sleeve sponsor. Last week, Kraken announced a similar deal with Spanish team Atletico Madrid, which means the company is now a crypto sponsor of both the English Premier League and Spanish La Liga. Kraken is said to be in talks to raise $100 million by the end of the year for an initial public offering.
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