Lookonchain APP

App Store

Former Treasury Secretary Downplays Economic Recession Concerns, Calls Stock Market Pullback a Natural Phenomenon

2025.03.14 02:24:27

March 14: Former U.S. Treasury Secretary Mnuchin downplayed the risk of a U.S. economic recession and played down the current stock market sell-off, viewing it as an adjustment in response to U.S. President Trump's aggressive trade policy. Mnuchin stated in an interview on Thursday, "We entered the market when it was already fully priced. Therefore, I think a 5% to 10% adjustment in the S&P index or Nasdaq index is actually reasonable." "The market has indeed been driven by a significant amount of tech spending, particularly in artificial intelligence. To a certain extent, this is a natural adjustment in the market," Mnuchin said. "Some of it is the market's concern about tariffs and their implications." He advised investors not to "overreact." He said, "I don't think we will enter a recession at all. As we reduce government spending, the economy may slow down slightly, but I don't think investors should be worried about an economic recession." He also mentioned that the current biggest concern is the U.S.'s substantial fiscal deficit and called on Republicans to extend Trump's 2017 tax cuts to mitigate the impact on borrowing. (FXStreet)
Relevant content

Analysis: Tariff Impact Likely to Emerge, Accelerated U.S. Inflation Data Expected in June

July 13th: An analyst pointed out that following several months of low inflation, the price surge that U.S. consumers experienced in June might have slightly accelerated. This is because businesses have begun to pass on the increased costs of imported goods resulting from tariffs to consumers. Surveys of economists by institutions indicated that the prices of goods and services, excluding the more volatile costs of food and energy, rose by 0.3% in June, which was the largest increase in five months. The core Consumer Price Index (CPI) in May only witnessed a marginal 0.1% increase. While the report next Tuesday may only reflect a slight transfer of U.S. import tariffs costs to consumers, many economists anticipate that inflation will gradually pick up over time. Meanwhile, many businesses are hesitant to raise prices as U.S. consumers, facing a cooling job market, are more focused on spending restraint, thus creating a delicate balance. (FXStreet)

1 seconds ago

Prediction: By the end of 2025, at least 36 additional publicly traded companies will have Bitcoin on their balance sheets

On July 13th, as per Cointelegraph, Blockware Intelligence's latest report foresees that by the conclusion of 2025, at least 36 newly publicly listed companies will incorporate Bitcoin into their balance sheets. This indicates a 25% rise from the present 141 publicly traded companies that hold Bitcoin. As of 2025, the holdings of publicly traded companies in Bitcoin have witnessed a 120% increase. MicroStrategy holds the top position with 597,325 BTC. Analysts note that the companies currently augmenting their Bitcoin holdings are primarily emerging ones or those facing operational difficulties. Corporate Bitcoin investment strategies may encounter market volatility risks, particularly during bear market cycles.

1 seconds ago

Bitcoin Breaks $118,000, 24-hour Gain 0.2%

On July 13th, based on HTX market data, Bitcoin surged past $118,000, showing a 24-hour change of 0.2%.

1 seconds ago

The Czech National Bank Makes First Purchase of Coinbase Stock, Valued at Around $18.1 Million

July 13th. According to Barrons, in the latest quarter, the Czech National Bank augmented its holdings of the data analytics firm Palantir Technologies (PLTR) and made its inaugural purchase of Coinbase (COIN) stock. Public records indicate that the Czech National Bank increased its holdings of Palantir stock by 49,135 shares, resulting in a total of 519,950 shares. Simultaneously, it made its first acquisition of 51,732 shares of Coinbase stock, with the new investment amounting to approximately $18.1 million.

1 seconds ago

Ethereum L2 TVL Rises to $363.9 Billion, 7-Day Growth Rate at 10.1%

On July 13th, based on L2BEAT data, the current total value locked (TVL) of Ethereum Layer2 has risen to $363.9 billion, with a 10.1% increase in the past 7 days. The top five locked Layer2s are as follows: Arbitrum One with $155.9 billion and a 7-day change of 10.1%; Base at $133 billion and a 7-day change of 8.11%; OP Mainnet with $12.9 billion and a 7-day change of 7.44%; Unichain with $12 billion and a 7-day change of 5.56%; ZKsync Era with $10.8 billion and a 7-day change of 10.3%.

1 seconds ago

Upbit 24-hour Trading Volume Ranking: XRP, KNC, XLM, ARK, MOCA in Top Five

On July 13th, based on CoinGecko data, within the past 24 hours, Upbit, the largest exchange in South Korea, had a trading volume of 3.88 billion US dollars. The XRP/KRW trading pair accounted for 13.04% of the volume and ranked first in the South Korean won market. The remaining top five in terms of trading volume are: KNC, XLM, ARK, and MOCA.

1 seconds ago