• bitcoinBitcoin (BTC) $ 111,097.00
  • ethereumEthereum (ETH) $ 2,642.37
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.42
  • bnbBNB (BNB) $ 684.10
  • solanaSolana (SOL) $ 178.75
  • usd-coinUSDC (USDC) $ 0.999790
  • dogecoinDogecoin (DOGE) $ 0.241796
  • cardanoCardano (ADA) $ 0.804199
  • tronTRON (TRX) $ 0.274378
  • staked-etherLido Staked Ether (STETH) $ 2,641.50
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 110,731.00
  • suiSui (SUI) $ 3.85
  • wrapped-stethWrapped stETH (WSTETH) $ 3,184.00
  • chainlinkChainlink (LINK) $ 16.69
  • hyperliquidHyperliquid (HYPE) $ 32.97
  • avalanche-2Avalanche (AVAX) $ 24.97
  • stellarStellar (XLM) $ 0.302241
  • shiba-inuShiba Inu (SHIB) $ 0.000015
  • bitcoin-cashBitcoin Cash (BCH) $ 443.03
  • hedera-hashgraphHedera (HBAR) $ 0.203675
  • leo-tokenLEO Token (LEO) $ 8.91
  • the-open-networkToncoin (TON) $ 3.16
  • litecoinLitecoin (LTC) $ 100.51
  • polkadotPolkadot (DOT) $ 4.93
  • wethWETH (WETH) $ 2,641.88
  • moneroMonero (XMR) $ 389.79
  • usdsUSDS (USDS) $ 0.999680
  • wrapped-eethWrapped eETH (WEETH) $ 2,823.06
  • pepePepe (PEPE) $ 0.000015
  • bitget-tokenBitget Token (BGB) $ 5.22
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • pi-networkPi Network (PI) $ 0.823452
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 111,123.00
  • whitebitWhiteBIT Coin (WBT) $ 31.80
  • bittensorBittensor (TAO) $ 462.86
  • aaveAave (AAVE) $ 255.57
  • uniswapUniswap (UNI) $ 6.35
  • nearNEAR Protocol (NEAR) $ 3.07
  • daiDai (DAI) $ 0.999862
  • aptosAptos (APT) $ 5.68
  • jito-staked-solJito Staked SOL (JITOSOL) $ 214.57
  • ondo-financeOndo (ONDO) $ 1.01
  • okbOKB (OKB) $ 52.60
  • kaspaKaspa (KAS) $ 0.116599
  • internet-computerInternet Computer (ICP) $ 5.65
  • crypto-com-chainCronos (CRO) $ 0.100040
  • ethereum-classicEthereum Classic (ETC) $ 19.63
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • official-trumpOfficial Trump (TRUMP) $ 14.45
  • tokenize-xchangeTokenize Xchange (TKX) $ 36.03
  • render-tokenRender (RENDER) $ 5.13
  • gatechain-tokenGate (GT) $ 21.78
  • vechainVeChain (VET) $ 0.030417
  • mantleMantle (MNT) $ 0.759887
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.17
  • ethenaEthena (ENA) $ 0.411273
  • susdssUSDS (SUSDS) $ 1.05
  • cosmosCosmos Hub (ATOM) $ 5.20
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.875828
  • worldcoin-wldWorldcoin (WLD) $ 1.50
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.250638
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 109,627.00
  • arbitrumArbitrum (ARB) $ 0.425286
  • algorandAlgorand (ALGO) $ 0.239654
  • filecoinFilecoin (FIL) $ 3.07
  • fasttokenFasttoken (FTN) $ 4.41
  • celestiaCelestia (TIA) $ 2.83
  • bonkBonk (BONK) $ 0.000022
  • jupiter-exchange-solanaJupiter (JUP) $ 0.585016
  • sonic-3Sonic (prev. FTM) (S) $ 0.526281
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.68
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,639.73
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999651
  • binance-staked-solBinance Staked SOL (BNSOL) $ 187.83
  • fartcoinFartcoin (FARTCOIN) $ 1.53
  • blockstackStacks (STX) $ 0.996562
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,765.92
  • kucoin-sharesKuCoin (KCS) $ 11.48
  • optimismOptimism (OP) $ 0.808537
  • injective-protocolInjective (INJ) $ 13.99
  • story-2Story (IP) $ 4.75
  • immutable-xImmutable (IMX) $ 0.711422
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.99
  • sei-networkSei (SEI) $ 0.242694
  • nexoNEXO (NEXO) $ 1.29
  • flare-networksFlare (FLR) $ 0.019428
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,005.57
  • dogwifcoindogwifhat (WIF) $ 1.18
  • the-graphThe Graph (GRT) $ 0.120990
  • usdt0USDT0 (USDT0) $ 1.00
  • eosEOS (EOS) $ 0.761199
  • xdce-crowd-saleXDC Network (XDC) $ 0.072036
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 111,003.00
  • curve-dao-tokenCurve DAO (CRV) $ 0.820398
  • makerMaker (MKR) $ 1,737.69
  • flokiFLOKI (FLOKI) $ 0.000110
  • raydiumRaydium (RAY) $ 3.36
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,813.30
  • msolMarinade Staked SOL (MSOL) $ 230.68
  • theta-tokenTheta Network (THETA) $ 0.964469
  • galaGALA (GALA) $ 0.020967
  • jasmycoinJasmyCoin (JASMY) $ 0.019100
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 197.81
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.014378
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 111,082.00
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • paypal-usdPayPal USD (PYUSD) $ 0.999641
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • wbnbWrapped BNB (WBNB) $ 684.11
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,769.43
  • iotaIOTA (IOTA) $ 0.229274
  • lido-daoLido DAO (LDO) $ 0.960367
  • clbtcclBTC (CLBTC) $ 111,342.00
  • coredaoorgCore (CORE) $ 0.851781
  • spx6900SPX6900 (SPX) $ 0.885138
  • the-sandboxThe Sandbox (SAND) $ 0.334952
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,758.98
  • tether-goldTether Gold (XAUT) $ 3,303.73
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.49
  • pax-goldPAX Gold (PAXG) $ 3,308.79
  • ethereum-name-serviceEthereum Name Service (ENS) $ 23.66
  • zcashZcash (ZEC) $ 48.83
  • pyth-networkPyth Network (PYTH) $ 0.136112
  • bitcoin-svBitcoin SV (BSV) $ 39.35
  • based-brettBrett (BRETT) $ 0.077520
  • heliumHelium (HNT) $ 4.18
  • bittorrentBitTorrent (BTT) $ 0.00000076
  • walrus-2Walrus (WAL) $ 0.566469
  • pendlePendle (PENDLE) $ 4.59
  • thorchainTHORChain (RUNE) $ 2.11
  • kaiaKaia (KAIA) $ 0.121376
  • dexeDeXe (DEXE) $ 12.43
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 110,237.00
  • jito-governance-tokenJito (JTO) $ 2.10
  • flowFlow (FLOW) $ 0.433719
  • tezosTezos (XTZ) $ 0.655071
  • grassGrass (GRASS) $ 2.44
  • chain-2Onyxcoin (XCN) $ 0.019806
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.999751
  • usual-usdUsual USD (USD0) $ 0.997471
  • decentralandDecentraland (MANA) $ 0.341108
  • polyhedra-networkPolyhedra Network (ZKJ) $ 2.05
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.241037
  • ousgOUSG (OUSG) $ 111.15
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.10
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,639.46
  • super-oethSuper OETH (SUPEROETH) $ 2,635.87
  • ketKet (KET) $ 0.565786
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 111,094.00
  • apecoinApeCoin (APE) $ 0.700211
  • aerodrome-financeAerodrome Finance (AERO) $ 0.681361
  • elrond-erd-2MultiversX (EGLD) $ 19.65
  • reserve-rights-tokenReserve Rights (RSR) $ 0.009637
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,757.89
  • dydx-chaindYdX (DYDX) $ 0.709255
  • aioz-networkAIOZ Network (AIOZ) $ 0.465109
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.005437
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,810.43
  • starknetStarknet (STRK) $ 0.174779
  • sonic-bridged-usdc-e-sonicSonic Bridged USDC.e (Sonic) (USDC.E) $ 0.999754
  • mog-coinMog Coin (MOG) $ 0.000001
  • arweaveArweave (AR) $ 7.96
  • popcatPopcat (POPCAT) $ 0.525312
  • kaitoKAITO (KAITO) $ 2.13
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,642.14
  • tbtctBTC (TBTC) $ 110,600.00
  • axie-infinityAxie Infinity (AXS) $ 3.13
  • conflux-tokenConflux (CFX) $ 0.098967
  • wormholeWormhole (W) $ 0.109185
  • deepDeepBook (DEEP) $ 0.200126
  • neoNEO (NEO) $ 7.02
  • true-usdTrueUSD (TUSD) $ 0.998814
  • movementMovement (MOVE) $ 0.190652
  • pumpbtcpumpBTC (PUMPBTC) $ 108,320.00
  • telcoinTelcoin (TEL) $ 0.005259
  • roninRonin (RON) $ 0.735249
  • eigenlayerEigenlayer (EIGEN) $ 1.59
  • kavaKava (KAVA) $ 0.442833
  • ecasheCash (XEC) $ 0.000024
  • morphoMorpho (MORPHO) $ 1.70
  • aethirAethir (ATH) $ 0.051034
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999797
  • chilizChiliz (CHZ) $ 0.046836
  • beldexBeldex (BDX) $ 0.062749
  • apenftAPENFT (NFT) $ 0.00000045
  • akash-networkAkash Network (AKT) $ 1.64
  • ether-fiEther.fi (ETHFI) $ 1.36
  • plumePlume (PLUME) $ 0.178448
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,646.42
  • beam-2Beam (BEAM) $ 0.008170
  • saros-financeSaros (SAROS) $ 0.163017
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.10
  • mimblewimblecoinMimbleWimbleCoin (MWC) $ 38.21
  • syrupMaple Finance (SYRUP) $ 0.386556
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • wrapped-hypeWrapped HYPE (WHYPE) $ 32.92
  • compound-governance-tokenCompound (COMP) $ 45.00

Economic growth data says we’re on track for a soft landing

0 17

Economic growth data says we’re on track for a soft landing

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

I wrote yesterday about how the market has generally remained pretty resilient despite recent bouts of volatility.

Tariff concerns, geopolitical tensions, earnings season and inflation have all weighed on US equities at different points throughout 2025, but one tailwind has remained constant: economic growth is — at least for now — solid enough.

Some economic data points are looking really strong. Manufacturing is on the rise with the most recent ISM manufacturing PMI and the Empire State Manufacturing Survey both coming in better than expected.

January’s ISM services PMI came in a bit lower than December’s figure, but is still healthily above 50. Retail sales saw their expected January dip, but are also still in a Goldilocks range.

On the labor front, non-farm payrolls were up solidly, and initial jobless claims ticked up only slightly in recent weeks. Unemployment has stabilized and wage growth has started to moderate. Our labor market is, as Powell said, “solid.”

The Conference Board projects real US GDP to come in at 2.3% in 2025, a decline from 2.8% in 2024. Globally, the non-profit expects real GDP to show 3% growth for 2025.

“While the US economy is set to start 2025 on strong footing after a year of surprisingly robust growth, a combination of proposed policies will likely weigh on growth and leave inflation elevated as the year progresses, resulting in a more patient policy stance from the Fed,” The Conference Board wrote in a statement earlier this month.

So, what does all of this mean? I think it means the Fed just may be on track to achieve its coveted soft landing — that is if the data continues to reflect decent economic growth.

Chicago Fed President Austan Goolsbee said a few weeks ago he’s still “optimistic” about a soft landing.

Minutes from the FOMC’s most recent meeting (released today) show staff have concerns about the direction of federal policy.

They “continued to note elevated uncertainty regarding the scope, timing and potential economic effects of possible changes to trade, immigration, fiscal and regulatory policies,” the minutes read.

Trade and immigration specifically could impact progress being made on inflation reduction, some staff noted.

Several participants also said it could be appropriate to pause or slow balance sheet runoff until Congress reaches a debt ceiling resolution.

It sounds like the pause on interest rate cuts will continue in the near term, unless there are significant changes to economic conditions.

“If labor market conditions deteriorated, economic activity faltered or inflation returned to 2% more quickly than anticipated,” committee members would consider easing monetary policy.

Generally, the minutes reflect what we’ve known since Powell’s last press conference: Officials are on hold until inflation trends much lower.

The economic data situation however remains the same. And again, unless we see major declines in growth, a soft landing is not out of the question.

Source

Leave A Reply

Your email address will not be published.