According to Cointelegraph, in this week's "Macro Markets" program, Cointelegraph analyst Marcel Pechman delved into the fiscal dilemma of the U.S. Federal Reserve. Pechman emphasized that as demand for goods and services grows, overall wealth cannot grow generally, which highlights the challenges posed by inflation, real estate prices, and the Fed's policies. Pechman believes that the Fed's loose monetary policy during the epidemic has led to a bleak outlook for the U.S. Treasury's finances.
Pechman went on to discuss the European market, focusing on the notable rise of Danish pharmaceutical company Novo Nordisk. The company once surpassed luxury goods giant LVMH and became the company with the highest market value in Europe. Pechman noted that the surprising success of Novo Nordisk, particularly its weight loss drugs Ozempic and Wegovy, has led to upward revisions to Danish GDP growth forecasts.
Finally, Pechman touched on the intersection of traditional companies and cryptocurrencies, speculating whether traditional companies will adopt cryptocurrency-based revenue distribution methods through smart contracts. Although he acknowledged the promise of this concept, Pechman stressed that the maturity and sophistication in this area are still low and the field is still in its infancy.
