Aurelia Butler

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    in Economy

    Fed to cut by 25bps in the next four FOMC meetings says Morgan Stanley

    The bank’s forecast reflects slower economic growth, labor market cooling, and persistent inflationary pressures. Morgan Stanley (NYSE:MS) highlighted that “lower immigration flows and more tariffs” are weighing on GDP growth and contributing to “stickier inflation.”While Morgan Stanley says inflation is projected to decelerate through early 2025, they add that it is expected to remain above the Fed’s 2% target through 2026.The firm forecasts core PCE inflation at 2.8% for 2024, 2.5% for 2025, and 2.4% for 2026.The bank adds that economic growth is anticipated to slow significantly, with GDP projected to grow 2.4% in 2024, 1.9% in 2025, and 1.3% in 2026 on a year-over-year basis.”The consumer slows” as labor income growth decelerates and tariffs dampen activity, Morgan Stanley said. They believe the labor market will also feel the effects, with unemployment rates rising from 4.1% in 2025 to 4.5% by the end of 2026.Morgan Stanley anticipates the Fed will pause rate cuts in the second half of 2026 as economic growth falls below potential. Quantitative tightening (QT) is also expected to conclude by early 2025.The bank outlined three alternate scenarios, including a “hard landing,” where the Fed overtightens, and GDP contracts in 2025; a “reacceleration,” where rate cuts fuel economic growth; and a “China reflation,” in which U.S. inflation slightly increases due to more expensive imports.Amid these uncertainties, Morgan Stanley emphasized the Fed’s caution: “The Fed cuts 25bp in the next four FOMC meetings, taking the fed funds rate to 3.625% by May 25. Signs of stickier inflation and overall policy uncertainty lead the Fed to pause until 2H26 when rapid cuts bring rates below neutral as growth slows below potential. At the same time, the Fed finishes QT in 1Q25.” More

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    in Economy

    ECB’s Makhlouf: Premature to make decisions based on new U.S. administration

    “I do think it would be premature to come to conclusions as to exactly what it is that the new U.S. administration is going to do, and to start making decisions based on that assumption,” Makhlouf told reporters on Monday.Makhlouf added that it would be going a bit far to say an ECB interest rate cut next month is “in the bag” and that the evidence would need to be “pretty overwhelming” to consider a 50-basis-point cut at the Dec. 12 meeting. More

  • 100 Shares199 Views

    in Cryptocurrency

    Satoshi-Era Bitcoin Whale Stuns Bitstamp With 1,712,099% Profit

    As the on-chain analytics report states, the unknown whales, along with two other wallets that recently resurfaced, deposited 200 BTC, worth about $17.9 million, into the oldest major crypto exchange, Bitstamp, and transferred 351 BTC, worth another $31.5 million, to a new wallet.The latest emergence of early Bitcoin investors from the period when the enigmatic creator of the cryptocurrency, Satoshi Nakamoto, was still active online is just another in a series of similar awakenings. However, despite the activity, the price of BTC continues to rise, absorbing all of the offered supply. We also see that not all coins make it to platforms like Bitstamp, and eventually the biggest “slices” are withdrawn to other wallets. Thus, besides the fact that deposits are taking place on Bitstamp, the bigger picture reveals a more complicated route for Bitcoin from old crypto investors.How this will end for the cryptocurrency remains an open question, but as the oldest “diamond hands” start to shuffle their holdings, it is definitely something to keep an eye on.This article was originally published on U.Today More

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    in Economy

    Brazil fiscal package done but defense ministry OK pending, Haddad says

    “The package is agreed with the president (Luiz Inácio Lula da Silva). We’re going to announce it soon, because we’re missing a response from one ministry … the Ministry of Defense,” said Haddad.”We had good meetings with the minister (José Múcio) and the commanders of the forces.”Haddad did not comment on the total amount of spending that the new fiscal measures will reduce, stating only that “the package is the size of our needs to maintain balanced growth.”Haddad also said he believed that a fiscal adjustment could eventually lead to interest rate cuts by helping to slow inflation, after market expectations recently led the central bank to accelerate its monetary tightening pace.The government has been promising to announce measures to contain spending in order to guarantee the sustainability of its fiscal framework, having previously said that the package would be announced after the second round of municipal elections in late October.The delay in the announcement has caused stress in the markets, putting pressure on Brazilian assets. More

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    in Economy

    FirstFT: Russia reacts to the US’s ‘new turn of escalation’

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

  • 188 Shares159 Views

    in Cryptocurrency

    LAOS Network Lists Token; Forges Partnership with Sequence to Bring Scalable Free-2-Play Gaming to Web3

    In conjunction with its token listing on centralized exchanges (MEXC, Bit2Me), Polkadot parachain LAOS Network is thrilled to announce a strategic partnership with Sequence, the all-in-one development platform for integrating web3 into games, to bring Free-2-Play game mechanics to blockchain gaming, now achievable at an unprecedented scale.By leveraging Sequence’s robust web3 technology stack, LAOS Network addresses key challenges in blockchain gaming, including high gas fees and network congestion, to deliver a seamless experience with web3 asset ownership. This partnership is meant to allow developers to easily harness LAOS’s “Bridgeless Minting” to tokenize in-game assets onto any EVM blockchain, while keeping minting costs low enough to suit even the high transaction volumes required by Free-2-Play models. Sequence’s established integrations as the only verified EVM-based web3 Embedded Wallet solution on major gaming engine stores like the Unity App Store and Unreal Marketplace are set to facilitate LAOS’s ongoing mission to bridge traditional and blockchain gaming.The Sequence partnership builds on LAOS Network’s recent growth, following collaborations with MetaverseMe for Free-2-Play blockchain gaming, Netherak Demons in ARPG mechanics (a Sequence gaming partner), and The Mines Run, a cyberpunk runner game on Ethereum, and Life’s Meta (NASDAQ:META), an AI-powered social simulator. Each partnership leverages LAOS Network to bring scalable minting and on-chain dynamics to the forefront of their gameplay. Furthermore, by the end of 2024, LAOS promises to extend its Bridgeless Minting technology to minting NFTs at scale directly on Bitcoin without relying on Layer-2 solutions, bridges, or the limitations of existing options like Ordinals.LAOS Network and Sequence invite developers to explore the transformative potential of their partnership through the LAOS Grant Program. This program provides a wealth of resources from both LAOS and Sequence, including dedicated mentorship, development support, advisory services, and essential tools for launching and scaling web3 games. With a total of 190M $LAOS tokens in funding, the program aims to support promising web3 projects leveraging the LAOS infrastructure, working to empower developers to bring innovative gaming experiences to life and advance the web3 gaming ecosystem.About LAOS NetworkLAOS Network is an innovative Layer-1 blockchain designed to enable large-scale minting of non-fungible tokens (NFTs) on any chain, without incurring the high gas fees typically associated with these networks. Its bridgeless minting technology allows for the seamless creation of digital assets on blockchains such as Ethereum, Polygon, and Hedera, while eliminating network congestion issues. As a parachain on Polkadot, LAOS benefits from battle-tested security and cross-chain interoperability through Polkadot’s Universal Location system. This allows LAOS to support large-scale gaming and digital asset ecosystems without the friction of traditional bridging solutions. The LAOS Network Utility Token will soon be tradable at https://mexc.com/ and Bit2Me.com.About SequenceSequence is an all-in-one development platform for integrating web3 into games. Users can onboard, monetize, grow, and retain players with Sequence’s award-winning technology. From collectibles and ownable rewards to fully on-chain experiences, Sequence’s easy-to-integrate platform works to solve blockchain complexities, so developers can focus on creative execution and delivering player experiences. Trusted by hundreds of games, thousands of developers, and powering millions of users, Sequence is backed by Take-Two Interactive (NASDAQ:TTWO), Ubisoft (EPA:UBIP), Xsolla, Bitkraft, Brevan Howard, Coinbase (NASDAQ:COIN), Polygon, and more.For media inquiries and more information, users can read the Sequence media kit and contact either:Stefania AsisMarketing Manager, LAOS Networkstefania@laosnetwork.ioMegan DoyleProduct Marketing Director, Sequencemd@horizon.ioContactCo-founderAlun EvansLAOS Networkalun@laosfoundation.ioThis article was originally published on Chainwire More

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    in Economy

    Why the G20 is a harbinger of the EU’s brave new diplomatic world

    Standard DigitalStandard & FT Weekend Printwasnow $29 per 3 monthsThe new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More