David Solomon, CEO of Goldman Sachs, expressed doubts about the Federal Reserve cutting interest rates this year due to the resilient economy, bolstered by government spending and investments in AI infrastructure. Despite these factors, Solomon highlighted the impact of rising prices on consumer behavior, referencing recent reports from McDonald’s and Autozone indicating reduced spending. He […]
Following the dramatic bank failures last year and the recent collapse of Philadelphia’s Republic First Bank last week, an analysis by Klaros Group indicates that hundreds of U.S. banks are at risk of failure. The study reveals that smaller and regional banks are experiencing stress due to burdensome commercial real estate loans and the current […]
Marathon Digital plans to increase its 2024 hash rate target for Bitcoin mining from 35-37 EH/s to 50 EH/s, thanks to expanded capacity from recent acquisitions, aiming to more than double its mining operations without the need to raise additional capital. The company’s growth includes purchasing a 200 megawatt Bitcoin mining center and two additional […]
As each day unfolds, analysts, economists, Wall Street institutions, and Fed watchers have increasingly postponed their forecasts for when the U.S. Federal Reserve will reduce the benchmark interest rate. Current data suggest that a rate cut in June is unlikely, with odds standing at 50-50 for a reduction in July. Financial Analysts Question Timing of […]
The U.S. Consumer Price Index (CPI) experienced a higher increase than anticipated in March, climbing by 0.4% over the month to reach 3.5%. The Bureau of Labor Statistics reported that the rise was primarily fueled by increases in shelter and gasoline costs. This acceleration in the inflation rate has unsettled the financial markets, with many […]