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☆ Former Trump advisor says the U.S. economy is 'back to normal,' but markets may be jumping the gun on rate hikes
▼ + stars: | 2023-11-29 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

The U.S. economy is "back to normal" for the first time in two decades, but the market is getting ahead of the likely pace of interest rate cuts, according to IBM Vice Chairman Gary Cohn. The central bank in September paused its historically aggressive monetary tightening cycle with the Fed funds rate target range at 5.25-5.5%, up from just 0.25-0.5% in March 2022. "You don't want to be early to leave when you're the last one to come to the party. "The economy will clearly turn down before the Fed had starts to cut interest rates, so I strongly believe that for the first half of '24, we will see no rate activity in the Fed. Maybe [in the third quarter], we'll start hearing rumblings of some forward guidance of lower rates."

Persons: Gary Cohn, Cohn —, Donald Trump, Cohn, CNBC's Dan Murphy Organizations: IBM, Federal Reserve, National Economic, Abu, Abu Dhabi Finance, Fed Locations: U.S, Abu Dhabi

☆ Ray Dalio hails the Gulf's 'renaissance states' amid a period of 'greater disorder' globally
▼ + stars: | 2023-11-28 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Ray Dalio speaks during the 2023 Forbes Iconoclast Summit at Pier 60 on June 12, 2023 in New York City. We're now talking about a renaissance state here that happens within this greater geopolitical and economic environment," Dalio told CNBC's Dan Murphy on Tuesday. The UAE "is a renaissance state," Dalio said. Amid higher oil prices in recent years, the region's mammoth sovereign wealth funds had ever more to spend. The region's combined 10 largest sovereign wealth funds managed some $4 trillion in early 2023, according to the Sovereign Wealth Fund Institute.

Persons: Ray Dalio, ABU, Dalio, CNBC's Dan Murphy, Dalio's Organizations: Forbes, Getty, United, United Arab Emirates, Bridgewater Associates, United Arab, CNBC, Abu, Abu Dhabi Finance, GCC, Gulf Cooperation, Dalio's Bridgewater Associates, Pensions & Investments, The, Dubai International Financial, Sovereign Wealth Fund, —, Saudi Arabia's Public Investment Fund Locations: New York City, Taylor, ABU DHABI, United Arab, Gulf, United Arab Emirates, Abu Dhabi, U.S, Singapore, The UAE, UAE, Saudi Arabia, Dubai, London, New York, France

☆ The U.S. needs 'bipartisan' leadership and a 'strong middle' politically, Ray Dalio says
▼ + stars: | 2023-11-28 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

As the U.S. gears up for its next presidential election in 2024, the country needs a "strong middle" political ground and bipartisan cooperation, according to Ray Dalio, founder of investment company Bridgewater. "If you bring the sides together in a bipartisan way, and you create a strong middle, that's what the country needs in order to be healthy, I believe," Dalio said Tuesday in conversation with CNBC's Dan Murphy onstage at the Abu Dhabi Finance Week. Two things are crucial for the U.S. in this process, Dalio said: Firstly, he assesses that those with extreme political views should be alienated. Secondly, the country needs to "bring together the smart moderates to work together, and then to be able to make important reforms" to enable addressing issues such as the wealth gap. Dalio expects the emergence of an alternative candidate to Trump among Republicans, as the party narrows down its final choice.

Persons: Ray Dalio, Dalio, CNBC's Dan Murphy, Louis, Dalio's, Joe Biden, Donald Trump, Biden Organizations: Bridgewater, Abu, Abu Dhabi Finance, Federal Reserve Bank of St, Democratic, Republican, The New York Times, Siena College, Trump, Republicans Locations: U.S, Abu Dhabi

☆ Roubini and Binance's CZ take swipes at each other over crypto
▼ + stars: | 2022-11-17 | by ( Dan Murphy | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoubini and Binance's CZ take swipes at each other over cryptoEconomics professor Nouriel Roubini slammed Binance's Changpeng "CZ" Zhao on stage at Abu Dhabi Finance week on Wednesday. CZ then hit back on Thursday at the Milken Institute Middle East and Africa Summit.

☆ Nouriel Roubini slams Binance boss CZ as a 'walking time bomb' and says crypto is totally corrupt
▼ + stars: | 2022-11-16 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Nouriel Roubini called Binance founder Changpeng Zhao a "walking time bomb" on Wednesday. Roubini also slammed Shark Tank investor Kevin O'Leary, who he called "a paid hack for FTX". "There are seven Cs of crypto," Roubini told CNBC Middle East Wednesday. Now FTX is collapsing & being bailed out by Binance," Roubini said in a November 9 tweet. Read more: 'Dr Doom' economist Nouriel Roubini suggests FTX's rescue deal shows how crypto is a Ponzi scheme: 'Who will bail out Binance?'

☆ Crypto is an 'ecosystem that is totally corrupt,' says economist Nouriel Roubini
▼ + stars: | 2022-11-16 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Outspoken economist Nouriel Roubini described crypto and some of its major players as an "ecosystem that is totally corrupt." "The lesson of the last few weeks is these people should be out of here," Roubini added. Recent turbulence in the crypto market has seen the collapse of one of the world's biggest crypto exchanges, FTX, with the revelation of highly risky and unsustainable borrowing and lending by the company and related investment funds. The price of bitcoin has plunged below $17,000 for the first time since 2020, and some fear the contagion could spread to topple other major players, such as Crypto.com. Binance has repeatedly centered the story around FTX, with the company initially suggesting it would buy its failing rival before pulling out of the deal.

☆ Binance CEO says crypto 'will be fine' and announces industry recovery fund
▼ + stars: | 2022-11-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The CEO of the largest online exchange for trading cryptocurrency, Binance, said he is establishing a recovery fund to help people in the industry, while saying the sector "will be fine." The CEO of the largest online exchange for trading cryptocurrency said Wednesday that he's establishing a recovery fund to help people in the industry while saying the sector "will be fine." "We want the strong industry players today to protect the good industry players who might just be hurt short term," Binance CEO Changpeng Zhao said during an interview with CNBC's Dan Murphy at Abu Dhabi Finance Week. Zhao said cryptocurrency had "shown extreme resilience," suggesting he didn't expect recent turbulence in the industry to cause long-term damage. "Whenever prices drop, we see an uptick in withdrawals," Zhao said.

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