John Authers, Columnist

Second Thoughts on Rates, Not on Bitcoin ETFs

Markets are coming to grips with the idea that the Fed won’t be cutting as fast as they thought. In contrast, the new Bitcoin vehicles are charging out of the gate.

January 19, 2024 at 5:21 AM UTC

By John Authers

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Strong out of the gate.
Photographer: Michael Nagle/Bloomberg

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Is it really such a safe bet that the Federal Reserve is going to cut interest rates early and often this year? The latest exhibit from the data to suggest that it isn’t came from the weekly jobless claim numbers, as good an early indicator as we have of how many Americans are being laid off. And last week, fewer people signed on as jobless than in any week since September 2022: