Fed member Miran provided insights into the latest inflation report and economic outlook.
Summarize the content using AI
ChatGPT
Grok
Bloomberg has released a significant announcement, fueling hopes for 2026 with this breaking news. Following the latest inflation report, Fed member Miran began his eagerly awaited speech. Let’s quickly delve into the details.
ContentsInstitutional Moves in CryptocurrencyMarket Reactions and Future OutlookInstitutional Moves in Cryptocurrency
According to the latest Bloomberg report, JPMorgan plans to offer cryptocurrency trading services to institutional clients next year. This is a major development as JPMorgan has historically maintained a cautious stance toward cryptocurrencies, primarily conducting blockchain operations through its private network. Recently, however, they have collaborated with Chainlink $12.71 to conduct trials on public networks, acknowledging the necessity to work with traditional financial networks like Ethereum $3,057.23 embraced by the broader financial community.
Likewise, Charles Schwab intends to initiate cryptocurrency trading services by 2026, and Vanguard recently granted its clients access to cryptocurrency ETFs. This expansion of adoption channels marks a significant shift. Miran, reflecting on the inflation report that appeared favorable due to last week’s disruptions, emphasized several points:
Last week’s inflation data contained anomalies due to the government shutdown.There was a slight distortion in the Housing CPI caused by the shutdown.Recent data aligns with my global perspective.The latest data should prompt a dovish stance among individuals.The refusal to update views adversely affects the institution’s image.I do not foresee a recession in the near term.If policy is not adjusted downward, we risk an increased chance of recession.Next year’s tax refunds will offer some economic revival.I have yet to decide on supporting a 25 or 50 basis point cut.Market Reactions and Future Outlook
As Bitcoin $89,991.05 dips below $90,000, less than an hour remains before the U.S. market opens, and the expectations for a rate cut are still weak.
You can follow our news on Telegram, Facebook, Twitter & CoinmarketcapDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
