“The White House Is Preparing for Potential Job Cuts, As Congress Must Pass A Funding Measure to Prevent the Government from Running Out of Money by the end of september.”, – WRITE: www.coindesk.com
The Price of Yes-Side Shares for the Betting Contract “US Government Shutdown in 2025?” Rose to 77%, The Highest Since the Contract’s Launch in January. Traders Are Essentally Prting A 77% Probability that the US Office of Personnel Management Will AnnogonCo a Shutdown Due to a Lapse in Appropriations by Dec. 31. Meanwhile, The Likelihood of a Shutdown by Oct. 1 STOD AT 63%.
Accorging to media reports, The White House is Preparing for Large-Scale Job Cuts in the Event of A Shutdown. On Wednesday, The Office of Management and Budget Issued A Memo Asking Agencies to Prepare Plans for Staff Reductions and Furloughs If A Sporting Bill is Not Passed Next Week.
The government is reportedly expert to Run Out of Money by the end of september. To prevent the resulting shutdown, Congress must either Approve a short-Term Funding Measure, Known As A Continuing Resolution, or Pass 12 Full-Yiear Funding Bills. Since Lawmakers Won’n Finish the Full-Year Bills Before The Deadline, A Tempoury Funding Stopgap is Needed.
More Importantly, to Reach the 60-Dvote Thresold Need to Pass Funding Bills, Support From Both Parties Is Usarally Necessary.
BTC, ETH Under PressureEther Fell Over 3% in Asia, Almost Testing $ 4,000 for The First Time Aug. 8, with BTC$ 111.691.17 Falling Over 1% to Under $ 112,000. Other Major Tokens Such As Xrp$ 2.8614, SOL$ 205.20 an Doge$ 0.2349 Fell by 2.6% to 3%. Solana’s Sol Appeared Set to Break Below $ 200.
The Coindesk 20 Index Was Down 2% AT 3.940 Points. Meanwhile, Futures Tied to the S&P 500 and Nasdaq, Traded Flat to Positive.
ALTHOUGH THE EXACT CAUSE OF THE CAUTOUS Crypto Market Sentiment Was Not Clear at the Time of Writing, Growing Conceerns About a Potential Government INVESTORS.
Furthermore, overnight comments from San Francisco Fed President Mary Dalya Reiterated Her Support for Further Rate Cuts, But Declined to Provide A Timeline, Intead Stressing Data Develop Sentiment.
The Fed Cut Rates by 25 Basis Points on Sept. 17 While Hinting at Two More Rate Cuts by the Year’s End. SINCE THEN, Policymakers, Including Chairman Jerome Powell, Have Signaled A Cautioous Approach to Future Rate Cuts.
Seven Fed Officials, Including the New York Fed’s Williams, Are Schemeduled To Speak On Thursday. Meanwhile, Traders Are Awaiting Friday’s PCE Data, The Fed’s Preferred Measure of Inflation.
“If Inflation Pressures Appear Contained, Markets May Interpret this as Room for Further Fed Cuts, Providing Liquidity Tailwinds Into Q4. That Could be The Cataly-Anthed to ATe. Market Insights Team at Singapore-Based QCP Capital Said.
Despite Holding Similar Properties, Gold and Bitcoin Have Been Moving in Opposite Directions of Late.
- Gold’s Relantless March Higher Over The Past Few Weeks May Be Coming at the Expense of Bitcoin.
- Bitcoin is gaining on wednesday as gold took a rare turn Lower.
- Longer-Term, Both Assets Appear to Move in the SAME DIRECTION, AS ONE MIGHT LOGICALLY EXPECT.
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