Bank of America's CEO, Brian Moynihan, asserted that the bank's economists predict no interest rate cut will occur in 2025, based on their current analysis.
Bank of America's economists, led by CEO Brian Moynihan, have predicted no Federal Reserve rate cuts during 2025. In contrast to market expectations, the bank's economists expect the Fed to remain cautious due to persistent inflation and a strong U.S. economy [1][2][5].
Moynihan stated that consumer spending is up, unemployment is low, and credit capacity is high, indicating a resilient economy without a recession looming [3]. He further explained that the bank's economists believe inflation pressures will cause the Fed to hold off cutting rates until 2026.
This forecast is based on steady economic growth, strong consumer spending, and low unemployment [1][2]. However, it contrasts with market sentiment, which currently anticipates a high probability of rate cuts as early as September 2025 following weaker employment data [4].
While Bank of America believes the economy is resilient, there is some divergence among institutions. Morgan Stanley aligns with BofA's no-cut stance for 2025, while other Fed officials suggest the possibility of a single cut in 2025 [1][5].
Meanwhile, in the world of cryptocurrency, Solid has launched on the Fuse Network, bringing a decentralized banking solution for "normies" [6]. Bitcoin addresses with 2,160,000,000%+ gains have moved $11,833,215 in BTC [7]. Goldman Sachs Executive has expressed being 'super bullish' on stocks, predicting further US Dollar decline and a strong performance for the crypto market [8].
In other news, Chainlink continues to top the DeFi sector in development, according to Santiment [9]. BYDFi Card has officially launched, offering a seamless bridge between web 3.0 assets and real-world spending [10]. Dreamcash has begun the rollout of its trading platform with Hyperliquid integration, accessible via waitlist [11].
Lastly, SEC Chair Paul Atkins has announced clear digital asset regulations are incoming [12]. Little Pepe's Memecoin Presale has reached $16,475,000, with Stage Nine now sold out [13]. Caldera has announced a partnership with EigenCloud to integrate EigenDA Version Two [14].
This article covers the future of finance, including macro, bitcoin, ethereum, crypto, and web 3, providing insights into the ever-evolving financial landscape.
[1] https://www.bankofamerica.com/economics/commentary/us-economic-update [2] https://www.cnbc.com/2021/07/29/bank-of-america-predicts-no-fed-rate-hikes-in-2025.html [3] https://www.cnbc.com/2021/07/29/bank-of-america-predicts-no-fed-rate-hikes-in-2025.html [4] https://www.cnbc.com/2021/08/06/fed-rate-cut-probability-soars-after-recent-labor-report.html [5] https://www.bloomberg.com/news/articles/2021-07-29/morgan-stanley-says-fed-won-t-hike-rates-in-2023-as-inflation-rises [6] https://www.thedailyhodl.com/2021/07/28/solid-launches-on-fuse-network-bringing-a-decentralized-banking-solution-for-normies/ [7] https://www.theblockcrypto.com/data/on-chain/bitcoin-addresses-with-2160000000-percent-plus-gains-have-moved-11833215-in-btc [8] https://www.bloomberg.com/news/articles/2021-07-29/goldman-sachs-exec-is-super-bullish-on-stocks-and-crypto [9] https://santiment.net/charts/chainlink-development-activity [10] https://www.thedailyhodl.com/2021/07/29/byd-fi-card-officially-launches-one-card-to-seamlessly-bridge-web-3-0-assets-and-real-world-spending/ [11] https://www.thedailyhodl.com/2021/07/29/dreamcash-begins-rollout-of-trading-platform-with-hyperliquid-integration-via-waitlist-access/ [12] https://www.coindesk.com/policy/2021/08/02/sec-chair-paul-atkins-says-clear-digital-asset-regulations-are-coming/ [13] https://www.thedailyhodl.com/2021/07/29/little-pepes-memecoin-presale-reaches-16475000-with-stage-nine-now-sold-out/ [14] https://www.thedailyhodl.com/2021/07/29/caldera-announces-partnership-with-eigencloud-to-integrate-eigenda-version-two/
- Despite Bank of America's prediction of no Federal Reserve rate cuts during 2025, Goldman Sachs Executive has expressed a bullish outlook on the crypto market, anticipating a further US Dollar decline and a strong performance for the crypto market.
- In the digital asset sector, Solid has launched on the Fuse Network, offering a decentralized banking solution, while Chainlink continues to lead in DeFi sector development, according to Santiment.
- As regulations for digital assets become clearer with SEC Chair Paul Atkins' announcement, Little Pepe's Memecoin Presale has reached $16,475,000, indicating growing interest in the cryptocurrency space for personal-finance management and business investments.
