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The Bitcoin Layer
Global Macro Update: Fed Will Print, Bitcoin STUCK At $70,000, Rate Cuts
Jun 7, 2024
This podcast discusses the Fed's need to print money, Bitcoin's price stagnation at $70,000, the impact of the election on Treasuries, and the likelihood of rate cuts. It also covers global central banks' rate cuts, the significance of reserves in the banking system, and how central bank money creation drives asset prices up.
35:12
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Quick takeaways
- US unemployment at 4%, signaling changing job dynamics.
- Bitcoin consolidating at $70,000 with institutional demand support.
Deep dives
US Economy: Unemployment Rate Hits 4%
Unemployment in the US has reached 4%, the first time since early 2022. The workforce is showing signs of slowing as job openings have decreased from over 12 million to 8 million. While 1.5 million jobs were created part-time, 1.2 million full-time positions were lost, indicating a shift in job quality. The focus on the unemployment rate highlights the job market's dynamics amidst changing employment patterns.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode