Fed Hints at 2024 Cuts, Crypto's Rollercoaster Ride

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Welcome to our latest edition, in case you missed it, here’s last week’s article: Roaring Kitty, China Dumps U.S. Treasuries, ECB Cuts Rates

Reading time: 2 minutes, 40 seconds

Fed Keeps Rates Steady, Hints at 2024 Cuts

Despite mixed inflation data, the Federal Reserve is expected to keep interest rates steady at 5.25%-5.5%.

Analysts predict no immediate rate cuts from the June meeting but potential cuts later in 2024, possibly around September and December.

The Fed's decisions will significantly impact borrowing costs, savings returns, and economic stability, making it crucial for investors and consumers to stay informed. (Full Read)

50-Year Petro Pact Between Saudi Arabia and U.S. Ends

This pact, established after the 1973 oil crisis, required Saudi Arabia to price oil in U.S. dollars and invest their revenues into U.S. Treasury bonds. Which bolstered the dollar’s status as a global reserve currency.

What does this mean for the dollar?

The end of this pact could lead to a decline in the U.S. dollar’s global dominance, potentially increasing inflation and disrupting our financial markets. (Full Read)

Crypto's Rollercoaster Ride

Bitcoin's recent 5% plunge to $66,000 triggered a $245 million liquidation in longs, driven by increased selling pressure amid economic uncertainty.

The volatility rippled across the crypto market, highlighting the need for risk management and portfolio diversification.

In this unpredictable landscape, staying informed and employing strategies like stop-loss orders are essential for successfully navigating the highs and lows.

Everything you need to know about down payment assistance, do the pros outweigh the cons?

You can get up to $30,000.00 in some states depending on if you meet certain qualifications.

Pros:

• Accessibility: Makes homeownership possible for buyers lacking sufficient savings.

• Financial Relief: Reduces the initial financial burden on buyers.

• Encourages Ownership: Boosts homeownership rates, especially for first-time buyers.

Cons:

• Eligibility Limits: Programs often have strict income and purchase price caps.

• Repayment Requirements: Some assistance needs to be repaid.

• Application Complexity: The process can be time-consuming and require extensive documentation.

We recommend speaking with a knowledgeable broker or advisor regarding down payment assistance, depending on your goals and current situation the strings attached could be worth it.

Before you buy that AC unit consider looking at residential window film

It’s simple you just need to spend 10,000.00 dollars to keep cool this summer, no-brainer, right? Don’t have the money up-front no worry, they can help you finance your way to a cooler summer!

Ac units are costly and unless you live in Las Vegas that utility bill is due every month. If it works for your car why wouldn’t it work for your house?

Residential window film can effectively block out solar radiation, keeping your home cooler. According to 3M one of the largest manufacturers of window tint and those faulty ear plugs, window film can reduce up to 78% of heat entering a window.

Finding a local window tint shop is a Google search away and most companies will do free estimates.

Thomas Sowell: From Harlem to Harvard, and Beyond!

Meet Thomas Sowell, a brilliant economist who went from the streets of Harlem to the halls of Harvard. Born in 1930 in North Carolina and raised in Harlem, Sowell faced many challenges early on. After serving as a Marine photographer during the Korean War, he pursued his education with passion, graduating magna cum laude from Harvard, then earning a master’s from Columbia and a Ph.D. from the University of Chicago under Milton Friedman.

Sowell’s career took him to teaching roles at Cornell, Brandeis, and UCLA before he settled at Stanford’s Hoover Institution in 1980. A prolific writer, Sowell has authored over 30 books, making economics easy to understand. His famous works like "Basic Economics" and "Discrimination and Disparities" break down complex ideas and challenge popular views, promoting free-market principles.

Even after retiring his column in 2016, Sowell’s influence remains strong. Awarded the National Humanities Medal in 2002, he continues to be a key voice in economic and social discussions, known for his clear and logical approach.

Moral of the Story:

Thomas Sowell’s journey shows that with determination and a love for learning, you can overcome any challenge and leave a lasting impact. His life is a powerful reminder that education and perseverance can open doors and change the world.

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That’s it for this week, don’t let the excitement end here - stay tuned for next week!

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