Economist gives Trump 'basic economics' class: 'Neither Trump nor his advisors understand'

The post Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC appeared on BitcoinEthereumNews.com. Franklin Templeton CEO Jenny Johnson has weighed in on whether the Federal Reserve should make a 25 basis points (bps) Fed rate cut or 50 bps cut. This comes ahead of the Fed decision today at today’s FOMC meeting, with the market pricing in a 25 bps cut. Bitcoin and the broader crypto market are currently trading flat ahead of the rate cut decision. Franklin Templeton CEO Weighs In On Potential FOMC Decision In a CNBC interview, Jenny Johnson said that she expects the Fed to make a 25 bps cut today instead of a 50 bps cut. She acknowledged the jobs data, which suggested that the labor market is weakening. However, she noted that this data is backward-looking, indicating that it doesn’t show the current state of the economy. She alluded to the wage growth, which she remarked is an indication of a robust labor market. She added that retail sales are up and that consumers are still spending, despite inflation being sticky at 3%, which makes a case for why the FOMC should opt against a 50-basis-point Fed rate cut. In line with this, the Franklin Templeton CEO said that she would go with a 25 bps rate cut if she were Jerome Powell. She remarked that the Fed still has the October and December FOMC meetings to make further cuts if the incoming data warrants it. Johnson also asserted that the data show a robust economy. However, she noted that there can’t be an argument for no Fed rate cut since Powell already signaled at Jackson Hole that they were likely to lower interest rates at this meeting due to concerns over a weakening labor market. Notably, her comment comes as experts argue for both sides on why the Fed should make a 25 bps cut or…

Anthony Scaramucci, stated that the introduction of Trump coins in January 2025 had a negative impact on the cryptocurrency revolution.

The post Solana Treasury Firm Holdings Could Double as Forward Industries Unveils $4 Billion Raise appeared on BitcoinEthereumNews.com. In brief Forward Industries, the largest publicly traded Solana treasury company, filed to raise $4 billion through an at-the-market equity offering to expand its SOL holdings. The company’s stock (FORD) fell 8.2% following the announcement, while the proceeds could more than double the $3.1 billion currently held in Solana treasuries. DeFi Development Corp. also registered a preferred stock offering with the SEC, following similar funding tactics used by Bitcoin treasury companies like MicroStrategy. Forward Industries, the newest and largest publicly traded Solana treasury company, has filed to raise $4 billion through an at-the-market equity offering. For the sake of comparison, this $4 billion raise is nearly the same size as Bitcoin treasury Strategy’s Stride preferred stock raise in July. And it’s double the size of the Strife preferred stock offering the company did in May. The proceeds would be used for working capital; pursuit of its Solana token strategy, and “the purchase of income-generating assets to grow its business,” the company said in a press release. Forward Industries declined to comment to Decrypt on what other income-generating assets it’s considering adding to its balance sheet.  As markets opened Wednesday morning, Forward saw its stock price take a dive. The shares, which trade under the FORD ticker on the Nasdaq, dipped to $31.29 before rebounding to $34.28 at the time of writing—marking a 8.2% fall for the session. If the company sells all the shares and spends the bulk of the proceeds on buying Solana, it could more than double the amount of SOL being held in treasuries. At the time of writing, there’s already $3.1 billion in Solana treasuries, according to crypto price aggregator CoinGecko. Users on Myriad, a prediction market owned by Decrypt parent company DASTAN, have been growing more confident that SOL will reach $250 sooner than…