ACTV - Forget The Fed Meeting We Have An Oil Problem On Our Hands
2024-06-14 03:26:51 ET
Summary
- The Federal Reserve met in June, holding interest rates steady, pointing to one rate cut in 2024, and pushing their inflation forecasts higher.
- The meeting went as expected, with inflation remaining well above the Federal Reserve’s target rate.
- Saudi Arabia decided not to renew the 50-year petrodollar agreement with the United States.
- The agreement’s expiration marks a significant checkpoint in the decay of United States hegemony.
- We explore the implications of the agreement expiration and the potential impacts on the global economy.
The June Federal Reserve meeting has been the talk of the town as investors assess the likelihood of shifting borrowing costs. For the seventh month in a row, the Federal Reserve elected to hold their target range for the federal funds rate steady. The range stands at 5.25%-5.50%, well above the average over the past decade....
Forget The Fed Meeting, We Have An Oil Problem On Our Hands