Cleveland Federal Reserve President Loretta Mester said Tuesday she still expects interest rate cuts this year, but ruled out the next policy meeting in May. Mester also indicated that the long-run path is higher than policymakers had previously thought. Her fellow policymaker, San Francisco Fed President Mary Daly, also said...
Category: Finance
Bitcoin could soar to $150,000 this year, hedge fund manager Mark Yusko predicts
Hedge fund manager Mark Yusko is predicting bitcoin will more than double this year to $150,000."Get off zero," the Morgan Creek Capital Management CEO and chief investment officer told CNBC's "Fast Money" this week.Yusko thinks investors should have at least 1% to 3% allocated to bitcoin in their portfolios. "Bitcoin...
TikTok aside, Congress has its eye on the U.S. money going into China
A jogger runs by the U.S. Capitol as the deadline to avert a partial government shutdown approaches at the end of the day on Capitol Hill in Washington, U.S., September 30, 2023.Ken Cedeno | ReutersBEIJING — The U.S. Congress increasingly has its eye on American capital that's allegedly funded China's military development,...
EU-China trade relations are in a ‘slow-motion train accident,’ business group says
A photovoltaic module company in Hefei, Anhui province, on Feb. 20, 2024.Future Publishing | Future Publishing | Getty ImagesBEIJING — Trade tensions between Europe and Beijing will likely escalate due to China's growing ability to manufacture more cheaply in strategic industries, according to Jens Eskelund, president of the European Union...
Morgan Stanley names a head of artificial intelligence as Wall Street leans into AI
The Morgan Stanley digital sign is seen at the company's Times Square headquarters in New York, U.S., on Friday, Jan. 12, 2016.John Taggart | Bloomberg | Getty ImagesMorgan Stanley promoted a tech executive in its wealth management division to become the bank's first head of firm-wide artificial intelligence, CNBC has...