According to Michael Kramer, founder of Mott Capital Management, traders of Fed fund futures no longer see the central bank switching to rate cuts next year. Traders expect rates to peak at about 3.7% by March and remain there until late 2023. Last month, the central bank raised the benchmark interest rate by 75 basis points (0.75 percentage point), lifting it to the 2.25%-2.5% range.
Texas’ Power Grid Needs Larger Increase Than Expected to Handle AI, Bitcoin Mining
Speaking to the Texas Senate Business and Commerce Committee Wednesday, Pablo Vegas, the CEO of the Electric Reliability Council of...