Ethereum

Reserve

Bitcoin

Shiba Inu

<div class="coingape"> 
 <h2 id="jp-morgan-shifts-opinion-to-no-recession">JP Morgan Shifts Opinion To No Recession</h2> 
 <p>The bank swiftly raised its real annualized GDP growth projection for the ongoing quarter from a mere 0.5% to an impressive 2.5%, a substantial leap reflecting the economy’s vigorous pace of growth. Michael Feroli, the chief economist, underscored this shift in a research note released on the same day.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <p>The momentous announcement triggered a market reaction, with the S&amp;P 500 plummeting by 50 points and wiping out a staggering $400 billion in market capitalization within minutes of the news.</p> 
 <p>This abrupt pivot now positions the bank with an outlook of “modest, sub-par growth” for 2024, as noted by Chief US economist Michale Feroli. This transformation in perspective is attributed to promising gains in productivity, heralding the promise of “healthy non-inflationary growth.”</p> 
 <p>In a related event, Raphael Bostic, president of the Atlanta Federal Reserve, highlighted the significance of a recent slowing in inflation. Discussions about the central bank’s stance on interest rates were triggered by this changing economic environment. Bostic’s emphasized caution on the potential effects of excessive rate increases, highlighting worries about unintentionally halting economic growth.</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/05/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/05/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/05/9acafad721dcbc6c15e6daccd38017cb.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/05/9acafad721dcbc6c15e6daccd38017cb.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Exchange Affiliate Programs In 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/05/f88de9f91a8c6b7926f52e209e8f697e.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/05/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top <a rel="noopener noreferrer nofollow" title="Crypto Market" href="https://thebittimes.com/tag/crypto-market.html">Crypto Market</a>ing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/05/e59946958a3ce000f279efb2e1b9c852.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/05/e59946958a3ce000f279efb2e1b9c852.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/05/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/05/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p>This shift in economic sentiment was further underscored by the US employment report for July, which fell short of expectations with the addition of 187,000 jobs, trailing behind the Dow Jones consensus estimate of 200,000. The unemployment rate, however, remained relatively steady at 3.5%. A silver lining emerged in the form of increased Average Hourly Earnings, providing a glimmer of hope for the labor market.</p> 
 <p>While positive indicators surface, it’s noteworthy that previous reports are adjusted, revealing a weaker labor market momentum than initially reported. May and June’s nonfarm payroll employment numbers were revised downward by 25,000 and 24,000, respectively.</p>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>Amid these developments, both Bank of America and the Federal Reserve have realigned their economic outlooks, signaling a potential shift in the overall sentiment. However, Feroli noted that risks of negative outcomes persist despite the changing tone.</p> 
 <p>Also Read: NYAG Investigates DCG Chief Barry Silbert Over Genesis Ties</p> 
 <h2 id="is-no-recession-a-good-sign-for-crypto-market">Is No Recession A Good Sign For Crypto Market?</h2> 
 <p>The cryptocurrency market remains a focus as the financial markets react to JP Morgan’s updated projection. It is&nbsp;with the possibility that sentiment and prices may improve as risk appetite returns. While there are bigger economic developments at work, the adaptability and distinctive qualities of particular cryptocurrencies may be what makes them successful in a changing environment.</p> 
 <p>In the <a rel="noopener noreferrer nofollow" title="Crypto Market" href="https://thebittimes.com/tag/crypto-market.html">Crypto Market</a>, <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> (BTC) and Ethereum (ETH) managed to hold above key levels, despite BTC experiencing a slight 0.34% loss. Meanwhile, altcoins like Litecoin (LTC) and Ripple (XRP) faced minor declines. Surprisingly, Shiba Inu (SHIB) emerged as a standout performer, enjoying a remarkable 9.72% surge within 24 hours.</p> 
 <p>Also Read: Valkyrie Converts Filing To <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> and Ethereum ETF: Bloomberg Analyst</p> 
</div>

JP Morgan Shifts To No US Recession Expected, Crypto's Outlook Turns Bullish

Table of Contents

TheBitTimes

Alte articole publicate pe 5 aug. 2023

Shiba Inu Partner Bad Idea AI’s $BAD Listed on Tangem – Price Up 10%

Elon Musk says X has no plans of launching token

Curve DAO (CRV) Up 8%, Is This its Second Chance?

Bitcoin Price Analysis: Drawn to 29164 Level - 6 August 2023

Enzyme Integrates with Morpho

BREAKING: Curve Finance x Forex Markets – DeFi Platform’s Masterplan Leaked

Join our free newsletter for daily crypto updates!