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October 4, 2022
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Joe Biden is planning further reprinting –

Joe Biden is getting ready to pump. It is unofficially said that the new administration of the White House wants as much as USD 1.9 trillion to hit the markets. Is this pure madness or a way to fight the crisis?

Joe Biden turns the printer on

The third covid “fiscal package” is to be worth USD 1.9 trillion – calculates the New York Times. Which contains? Supposedly the third “Disposable” checks for Americans (this time in the amount of USD 1,400 per capita). Additional money is also to go to “Minority communities”. Malicious say it is a political decision as it is this group that votes for the majority of Democrats.

This is what Wall Street investors feared. The point is, the Republicans were against further reprinting (or at least as much as their competitors want it). In turn, Biden’s success means that more funds will most likely be pumped into the economy.

What about the markets?

Already during the spring package, it was noticed that some of these funds went to the stock exchanges (including those that allow you to buy BTC – American entities noticed a large jump in deposits worth USD 1,200, which is as much as US citizens received from the government).

There is a tug of war between expectations for another fiscal stimulus – the result of Democrats taking control of the Senate – and the labor market, which has a long way to go to recovery – said Emily Roland from John Hancock Investment Management.

Before the session, there were more poor data from the US labor market. The weekly number of applications for unemployment benefits rose unexpectedly to 965,000, while a stabilization of 780,000 was expected. This is not the first negative surprise from the US labor market. December’s BLS report showed that employment in non-agricultural sectors fell by 140,000, while economists on average expected an increase of 100,000 ”

– describes on bankier.pl Krzysztof Kolany.

However, there are many indications that Bitcoin (and other cryptocurrencies) and precious metals – gold and silver may gain from further printing.

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