ChainCatcher news, according to Jinshi reports, a nonpartisan fiscal oversight organization, the "Committee for a Responsible Federal Budget" (CRFB), warns in its latest analysis that extending the tax cuts set to expire next year will have almost no benefit for economic growth.The CRFB's findings are based on an assessment by the Congressional Budget Office (CBO), which found that allowing the tax cuts to expire would significantly increase public revenue, reducing the cumulative fiscal deficit by $3.7 trillion over ten years. This potential revenue growth would mean less public borrowing, which in turn would stimulate private investment.In the CBO's analysis, this would help offset the reduction in the labor force caused by the expiration of the tax cuts. The CBO stated, "Overall, these two effects largely offset each other, resulting in very little change in Gross Domestic Product (GDP)."This means that, in the view of the CRFB, extending the tax cuts would also have a similar, modest net effect on economic growth.

ChainCatcher message, former Goldman Sachs executive and founder of macro research firm Real Vision Raoul Pal posted on social media, "New Treasury Secretary Scott Bessent supports using a weak dollar and low oil prices to drive growth in the U.S. and global economy. That's all you need to know. It will boost financial conditions. Scott is good for your bag. I've known him for over a decade, and he understands this."

ChainCatcher news, Citigroup CEO Fraser stated that Trump is expected to support economic growth and bring positive impacts.

ChainCatcher news, according to The Block, Detroit city officials announced on Thursday that the city will become the largest city in the United States to accept cryptocurrency payments. Residents will be able to use cryptocurrency to pay taxes and other city fees through a secure platform managed by PayPal.Finance Director Nikhil Patel stated that this option will be launched in mid-2025, and further improvements to city payment services will also be made. This is part of a larger strategy for the city of Detroit aimed at exploring innovative technologies that can enhance public services, strengthen citizen engagement, and promote economic growth.

ChainCatcher news, ABN Amro analysts stated in a report that Trump's victory in the election could pose challenges to economic growth in the Eurozone. Tariffs on imported goods may lead to a decline in Eurozone exports, affecting its growth prospects. ABN Amro stated, "A 10% universal tariff would lead to a significant decline in Eurozone exports and have a 1.5 percentage point impact on Eurozone growth over the next few years."

ChainCatcher news, Rohit Sipahimalani, Chief Investment Officer of Singapore's state investment company Temasek International, stated that if Trump returns to the White House, it may not have a positive impact on the global economy and financial markets.Sipahimalani pointed out that the policies of the Trump administration would lead to a slowdown in global economic growth, which would ultimately affect American businesses. He also warned that higher interest rates and a stronger dollar would have adverse effects on emerging markets.

ChainCatcher news, ECB Governing Council member Lane stated that the inflation rate across the Eurozone is steadily returning to the target level of 2%, but weak economic growth poses a risk of further price declines. Lane said, "The disinflation process in the Eurozone is on track. Over the past few months, the growth outlook has clearly weakened, which may also increase the pressure for inflation to fall further."He believes that interest rate cuts are still ongoing, but he will not disclose how fast or how far they need to go. Lane stated that since our interest rates are still in a restrictive range, the direction of interest rate changes is clear. He also mentioned that the speed and extent of rate cuts will depend on the inflation outlook, the dynamics of underlying inflation, and the strength of monetary policy transmission.

ChainCatcher news, UBS predicts that the U.S. economy will experience a "no landing" scenario, where economic growth continues and inflation remains stable, breaking the recession forecast. Due to stronger-than-expected employment data and GDP growth, UBS expects the elections to trigger market volatility, but as the Federal Reserve moves towards rate cuts, economic momentum and the trend of artificial intelligence will support a rise in the stock market.

ChainCatcher news, on Tuesday local time, former U.S. President and Republican presidential candidate Trump accepted a media interview, stating that if he could return to the White House, his core policies would focus on economic growth and bringing businesses back to the United States.Trump vigorously defended high tariffs, believing that this is a way to stimulate economic growth. In his opening remarks, Trump claimed he would impose tariffs on imported goods and reduce taxes for domestic businesses. "For me, the most beautiful word in the dictionary is tariff."

ChainCatcher news, JPMorgan CEO Jamie Dimon stated that economic growth is the focus, not just placing business people in that position. (Jin Ten)

ChainCatcher news, analysis institutions believe that the growth momentum of the European economy is expected to rebound, and real wages are actively increasing, which reduces the likelihood of the European Central Bank lowering interest rates in the coming months. The European Central Bank places great importance on wages when deciding the degree and pace of easing policies, emphasizing that wages are a key factor in assessing the inflation outlook. Over the past year, real wages in the eurozone have been increasing. It is expected that the European Central Bank will maintain the main refinancing rate at 4.25% today, and the prospect of cumulative rate cuts of 45 basis points by the end of the year and nearly 100 basis points by June next year is weakening.

ChainCatcher news, according to Caixin, the Federal Reserve's meeting minutes show that the vast majority of officials believe that U.S. economic growth is gradually cooling, and most participants consider the current policy stance to be restrictive. The Federal Reserve is waiting for "more information" to gain confidence in cutting interest rates. Some participants indicated that policy should be ready to respond to unexpected economic weakness at any time, and several Federal Reserve officials stated that if demand weakens, the unemployment rate may rise.Several participants noted that if inflation remains at a high level or rises further, it may be necessary to raise interest rates.In addition, Federal Reserve spokesperson Nick Timiraos stated that the meeting minutes suggest they are unlikely to cut interest rates at the meeting later this month.

ChainCatcher News, U.S. Senator Elizabeth Warren wrote to Federal Reserve Chairman Jerome Powell, expressing concerns about the current high interest rate policy in the United States and urging the Federal Reserve to take action to adjust interest rate policies to avoid further impacts on economic growth and financial stability.Elizabeth stated that U.S. interest rates are at their highest point in the past twenty years, at 5.5%. High interest rates have persisted for some time, slowing economic growth and failing to address the main drivers of inflation. The European Central Bank has lowered interest rates for the first time in five years in an effort to keep inflation at the target level of 2%. As the Federal Reserve maintains high interest rates, the gap between U.S. and European rates is widening. This could lead to a stronger dollar and tighter financial conditions.