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Dan Tapiero, founder & CEO at 10T Holdings, flagged a potential policy error by the Federal Reserve as evidence mounts of economic weakness in the U.S.
According to Tapiero, the latest U.S. consumer confidence report was particularly poor, with jobs-related subcomponents at their second weakest level since the 2020 COVID-19 period. He further cited the six-month outlook figure of 63.6, highlighting that Conference Board guidelines identify any value below 80 as potentially pointing to a recessionary outlook. Tapiero expects Friday’s report to also be weak.
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Tapiero recently commented on the past year’s 25-fold price increase in Zcash, focusing on investor conviction and perceptions of the crypto market cycle in a previous article. He has also argued that blockchain’s future lies in tokenizing high-value assets such as real estate and other illiquid holdings, according to another report. Tapiero remains an active voice on macroeconomic developments and digital asset trends.