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Barclays economists adjusted their forecasts for Fed policy based on June inflation data released this week and a gradual cooling in the labour market. They now believe the Fed will cut interest rates for a second time in December, on top of September's cut. Marc Giannini and Jonathan Millar, economists at Barclays, said in a research note: "We also believe the FOMC's growing belief in the restrictive stance of monetary policy should further persuade it to cut rates in September and December."
Barclays economists adjusted their forecasts for Fed policy based on June inflation data and a gradual cooling in the labour market this week, and now see a second rate cut in December on top of September's cut. "We also believe that the FOMC's growing belief in the restrictive stance of monetary policy should further persuade the FOMC to cut rates in September and December," Barclays economists Marc Giannini and Jonathan Millar said in a research note.
Investment bank Architect Partners said in a quarterly report released last week that the digital asset industry is embarking on a major growth phase and is currently in much better shape than it was two years ago. The company said that the value of the crypto industry increased by more than $750 billion in the first half of the year. Drivers of growth include a surge in the value of crypto tokens to more than $700 billion and the successful launch of spot BTC in the United States.
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