BITCOIN

The chief global strategist of JPMorgan Asset Management has advised investors to focus on valuations, invest in value stocks, sell crypto, and steer clear of bitcoin. “The Federal Reserve is overestimating the strength of the U.S. economy as it feels guilty about the fact that inflation went up under their watch,” he said. JPMorgan Strategist’s Recommendations JPMorgan Asset Management’s chief global strategist, David Kelly, has some advice about what investors who are worried about a hawkish Federal Reserve should invest in. Following the speech by Federal Reserve Chairman Jerome Powell Friday at Jackson Hole, Wyoming, he was quoted as saying : The economy has got one foot into a recession and the other on the banana peel now. “We are taking forceful and rapid steps to moderate demand so that it comes into better alignment with supply, and to keep inflation expectations anchored. We will keep at it until we are confident the job is done,” Powell said last week. Warning of m...

The Central Bank of Nigeria has said it is slashing transaction fees for the e-naira platform by 50% — a move which the bank claims will increase the volume of transactions on the central bank digital currency (CBDC) platform. The central bank also believes that wider adoption of the CBDC will bolster Nigeria’s cross-border trade volumes. Boosting E-Commerce Transaction Volumes In yet another move aimed at boosting the embrace and adoption of the e-naira central bank digital currency (CBDC), the Central bank of Nigeria (CBN) reportedly said it will slash the service fees incurred by individuals and merchants using the digital currency platform by 50%. In addition, Nigerian businesses signing on to become e-naira merchants have an opportunity to increase the volumes of their respective e-commerce transactions by 50%, a report has said. Quoting Kingsley Obiora, the central bank’s deputy governor, a Daily Trust report suggests that Nigerian businesses adopting the CBDC could improv...