The "dollar hegemony" shows cracks in Asia: "de-dollarization" is accelerating and the renminbi is being embraced!
① With last month's unpredictable tariff policies by Trump triggering a wave of asset sell-offs in the USA, a fresh wave of "de-dollarization" is taking root in Asia... ② Multiple signs indicate that the demand for currency derivatives that bypass the dollar is rising among banks and brokers in the Asia region, as trade tensions have added urgency to the shift towards de-dollarization that has been happening for many years.
Following the "new king of bonds," Goldman Sachs also predicts that inflation in the USA will reach 4% this year.
Goldman Sachs predicts that by Christmas, the inflation rate in the USA may reach 4%, while Commodity inflation could surge to 6%-8%. Shortly after the Federal Reserve announced to hold steady on May 7th, and after the press conference by Fed Chair Jerome Powell, Jeffrey Gundlach of DoubleLine Capital also stated, "Given the current situation, the overall CPI increase by the end of this year could reach the '4' threshold."
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Trump criticizes the Federal Reserve again for not lowering interest rates, but this time did not call for firing Powell.
① The Federal Reserve announces that it will maintain the target range for the federal funds rate between 4.25% and 4.50%, marking the third consecutive decision to keep rates unchanged; ② Trump criticized Federal Reserve Chairman Powell on social media, stating that he is "too late" and "clueless," but added that he "still really likes him."
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