Bloomberg columnists Marcus Ashworth and Mark Gilbert have a key message for 2025: Fasten your seatbelts, it's going to be a roller coaster ride. On the question of where Bitcoin lies in the future, they point to Nobel Prize-winning economist Paul Krugman, who posted on the Bluesky social platform last month that while Bitcoin has broken through $100,000, there is still no legitimate use case even after 15 years. The recent bitcoin price jump has at least one recognizable...
Given today's CPI report, the core PCE measure of inflation is likely to accelerate to 0.2% in September from 0.1% in August, but the annualized rate is "only slightly above the Fed's 2% target," analyst Paul Ashworth said in a note. The PCE data won't be released until the end of the month, and beyond that, tomorrow's PPI report will help adjust expectations. If his forecast is correct, the pace of inflation (falling back) "will support a more cautious 25 basis point cut by the Fed early next m...
Capital Economics analyst Paul Ashworth said in a note that the Fed is likely to continue cutting interest rates by 25 basis points until the federal funds target rate falls to a range of 3% -3.25%. This would be higher than the widely expected end point rate of 3.25% -3.5% or higher, according to CME data. Ashworth expects the Fed to cut rates by 25 basis points in November, which is also the loudest of market expectations, although the odds of keeping rates on hold in November have risen to 22...