'Forget a pivot' — markets won't see Fed rate cut boost in 2023, says analyst
Bitcoin, stocks or else, there is now no light at the end of the Fed rate hike tunnel in 2023, says Jim Bianco. Bitcoin (BTC) and other bulls will not benefit from a major change in United States inflation policy in 2023, one analyst says. In a Twitter thread on Dec. 20, Jim Bianco, head of institutional research firm Bianco Research, said that the Federal Reserve would not “pivot” on rate hikes next year. Bianco: Japan YCC move "matters for all markets" In light of the surprise yield curve control (YCC) tweak by the Bank of Japan (BoJ), analysts have become all the more bearish on the prospects for risk assets this week. As Cointelegraph reported, the move spelled immediate pain for the U.S. dollar, and with the Wall Street open in sight, equities futures were trending down in step at the time of writing. For Bianco, the fact that the BoJ was now seeking to follow the Fed in tightening policy to ward off inflation meant that the latter was unlikely to loosen its own policy...