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Fed Governor Paul Waller said in a speech that stablecoins are like a synthetic dollar, and if they can make payments faster and cheaper, I agree. Regulation of stablecoins is urgently needed, and the sooner the better. Stablecoins will allow the dollar to further strengthen its position as a reserve currency.
UBS now expects the Federal Reserve to cut interest rates by 100 basis points this year, up from a previous forecast of 50 basis points. Unless the August jobs report is strong, UBS believes the Federal Reserve will begin an easing cycle with a 50 basis point rate cut at its September meeting, UBS said in its report. "Our baseline judgment remains that the U.S. economy will avoid recession and growth will remain close to its 2% trend. With interest rates at a 23-year high, the Fed has enough fle...
The Fed interest rate swap market is fully priced in three rate cuts before the end of the year.
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