World May Not Be Ready for U.S. Interest Rate at 7%, JPMorgan CEO Says
U.S. rates at 7% could push the U.S. economy into a recession, triggering risk aversion in financial markets.
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The Sweat Economy price is $0.009704666, a change of 0.49% over the past 24 hours as of 8:51 p.m. The recent price action in Sweat Economy left the tokens market capitalization at $74,513,292.37. So far this year, Sweat Economy has a change of -5.39%. Sweat Economy is classified as a Currency under CoinDesks Digital Asset Classification Standard (DACS).
U.S. rates at 7% could push the U.S. economy into a recession, triggering risk aversion in financial markets.
Federal Reserve Bank of Chicago economists predict low inflation and a resilient economy, a potential goldilocks scenario for risk assets, including cryptocurrencies.
ALSO: Singapore ranked second in CoinDesk's Crypto Hubs survey. The city state raised billions through IPOs, weathered the collapse of homegrown darlings Terraform Labs and Three Arrows Capital and is now searching for the right regulatory balance to encourage crypto without getting burned again.
The risk-off mood is probably the market's way of telling China that rate cuts of 10 basis points are not enough to spur the slowing economy.
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