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Showing posts with the label monetary policy

Global De-Dollarization Trend Speeds Up—JPMorgan Warns What Comes Next

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The global de-dollarization trend has reached a critical point right now, with JPMorgan Chase reporting that US dollar reserves have fallen below 60 percent for the first time in two decades. As 71 countries de-dollarize their holdings, central banks are shifting toward gold at unprecedented rates, and this raises serious concerns about the future of American economic dominance. Also Read: JP Morgan UK Slowdown Signals De-Dollarization Explodes Globally 71 Countries De-Dollarize While Gold and JPMorgan Warnings Rise Source: goldavenue.com JPMorgan Issues Warning on Accelerating Shift The global de-dollarization trend shows up clearly in the numbers at the time of writing. Total holdings of dollar-denominated securities by central banks fell by $59 billion in 2024, and this decline has been accelerating. As of last year’s end, dollars made up just 57.8 percent of global reserves—the lowest since 1994 and a 7.3 percent decline over the past decade. In 2002, dollars accounted for ab...

Bitcoin Climbs 5% as Powell's Remarks Ignite Crypto Market

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Bitcoin surged over 5% on Friday, August 23, 2024, following Federal Reserve Chair Jerome Powell’s recent comments. The Fed’s hints at potential interest rate cuts have reignited the crypto market and discussions about crypto regulations. Also Read: BRICS: Payments in Chinese Yuan Surpasses the US Dollar by 2.5% Fed’s Rate Cut Hints Spark Bitcoin Surge Amid Regulatory Uncertainty Source: Canva Powell’s Jackson Hole Speech: A Catalyst for Crypto Investors watched Powell’s address at the Jackson Hole Economic Symposium closely. He expressed confidence in managing inflation, which had peaked in 2022. The Fed’s remarks about possible rate cuts starting September 2024 were received positively by the crypto market. Market Response: Bitcoin and Altcoins Rally After Powell’s speech, Bitcoin’s value increased by 5.59%, reaching $63,720. Other cryptocurrencies also gained. Ethereum rose 2.9% to $2,685. Solana went up by 2.4%, while Polkadot increase...