Musk Sides With Hardest Fed Critics, Bitcoin Gets Gloomy Predictions, Amazon, Berkshire Focus on Biden’s Tax Bill & More: 5 Key Stories You May Have Missed from the Weekend – Bitcoin (BTC/USD)
After the Fed-induced sell-off in the week ending September 23, discussions over the weekend centered on whether Federal Reserve Chairman Jerome Powell and his team will announce another aggressive rate hike.
Here’s a quick recap of five stories you may have missed from the weekend:
Bitcoin below $14K? The decline in the technology-heavy Nasdaq is bad news for Bitcoin BTC/USDaccording to cryptanalyst Nicholas Merten. The expert predicts that the apex crypto will fall by an equalized amount if Bitcoin remains neutral on the Nasdaq. Merten sees the possibility of Bitcoin moving towards the $13,600-$14,000 level. At the time of writing, the crypto was trading at 19,099.96, up 0.11%.
New tax rate could hurt Amazon, Berkshire the most: A study conducted by the University of North Carolina Tax Center showed that the new minimum tax of 15% proposed by Biden administration would hurt Amazon Inc. AMZN and Warren Buffett’s Berkshire Hathaway Inc. BRKA BRKB most, according to reports.
Berkshire may have had to write off $8.3 billion and Amazon over $2.7 billion if the tax rate were applied to profits in 2021, the study found.
Musk agrees with Wharton professor at the Fed: Elon Musk expressed opinion of Wharton finance professor Jeremy Siegel, which came down heavily on the US central bank’s decision to raise interest rates aggressively to curb inflation. The professor blamed the central bank for not acting in 2021 when prices were headed north and acting with a vengeance now even though prices are falling.
“They were way too easy through 2020 and 2021,” Siegel said. “Now the Fed is saying, ‘We’re going to be real bullies until we wreck the economy,'” he added.
No love lost between Trump and DeSantis: Former president Donald Trump think he nursed Florida’s governor Ron DeSantis and is very upset that the latter has now turned against him, according to a report from the Washington Post. “I made him,” Trump reportedly told his advisers, adding that DeSantis had been ungrateful.
“I don’t understand what happened here. I don’t understand why he doesn’t appreciate me more.”
Weak yen bites McDonald’s: Rolling under the onslaught of a weaker yen, McDonald’s MCD The Japan unit plans to raise prices on about 60% of its products, with increases ranging between $0.07-$0.21, Bloomberg reported, citing a company statement. The increased prices come into effect on 30 September.
What else: Women are increasingly ranking financial security as one of the most crucial factors for well-being, according to the 2022 Ellevest survey. Read on to learn more about the other findings.
Digital World Acquisition Corp. DWAC said in a filing that private investment in public equity investors that represented about $138.5 million in financing commitments withdrew their offer in a blow to the SPAC, which has agreed to merge with Trump Media and Technology Groupas owner Truth Social platform.
