Safe haven assets are to rise in the wake of the assassination attempt on Donald Trump.
Gold and especially Bitcoin are rising today, Monday, the 15th of July, 2024 a day after there was an attempt on the former US President and current electoral US presidential candidate of the Republican party Donald Trump's life.
Investors seems to be discounting more than two, possibly three Federal Reserve cuts of interest rate levels in 2024. In view of the former in the Trump Presidential mandate strong rhetoric of then president Donald Trump towards the Federal Reserve, formerly even threatening to fire Jerome Powell, the Chairman of the Federal Reserve, if he does not lower interest rate levels. And Jerome Powell then duly lowered the Federal Funds Rate three times after then president Trump's firing threats, all be it founded by lower inflation than target. Or that was the then explanation.
Most probably, this time again Jerome Powell could find another explanation, slowing labor market is one under which to cut interest rates three times in 2024, while until yesterday investors were expecting two Federal Funds Rate cuts in 2024.
Such a three rate cuts development in 2024 would be a tail wind for the economy and could spur small capitalization stocks, gold, cryptocurrencies and commodities higher.
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