Upcoming Massive Financial Reset: Central Banks Rush to Align with Fed, Predicts Bloomberg Analyst
Expert Bloomberg Commodities Analyst Mike McGlone Cautions About Impending Financial Reset During Monetary Tightening Policy Environment.
"Financial Reset Looms as Central Banks Worldwide Raise Rates, Warns Bloomberg Analyst"
On a recent episode of the 'Wolf of All Streets' podcast, Senior Bloomberg Commodities Analyst, Mike McGlone, forewarns about an impending major financial recalibration triggered by the narrative of central banks raising rates globally.
"I strongly believe that we are on the verge of the most significant reset in a lifetime, partly due to the current narrative surrounding central banks' rate increases," says McGlone.
He highlights that the Federal Reserve's influence on the global economy remains unwavering, and other central banks are expected to mirror its actions, just as they have done in the past.
"As expected, today we'll see a 0.25% rate hike, and subsequently, every other central bank, except China and Japan, will follow the Fed's lead."
McGlone emphasizes the significance of the US economy from the perspective of central banks, asserting that they are scrambling to keep up with the Federal Reserve's policies.
"Don't fight the Fed – that's the bottom line. People tend to do the opposite, and they often overlook the general consensus that everything will be fine once the Fed stops tightening."
Shifting to the equity market, McGlone expresses a bearish outlook, comparing it to Bitcoin's recent performance after reaching its 2023 high.
"I see the equity market at a precarious stage, and I am quite bearish on it. The same exuberance I sensed in Bitcoin when it was at $31,000 a month or two ago is now evident in the equity market."
Jul 26, 2023