our business correspondent in new york, is erin delmore. if you re in the crypto world or curious about getting into it, then a spot bitcoin etf has been on your radar. it allows people to bet on bitcoin s gains and losses, even if they do not own bitcoin themselves. us regulators are widely expected to approve the new exchange traded funds this week. so, when a tweet was posted from the sec gov account, saying essentially that, it was noteworthy. it was also wrong. the sec and its chair, gary gensler, quickly posted on x that the sec account was compromised and the regulator had not yet approved the listing in trading of spot bitcoin exchange traded products. the erroneous tweet also included graphic with a quote from chair gensler, a second tweet that also said $ btc . bitcoin s ticker symbol was also posted but was then almost immediately deleted. for bitcoin s value, a bit of a ride. the cryptocurrency climbed to nearly $48,000 on the false news and fell back down to $45
spenders, let them know, almost $2 trillion in deficit reduction. i don t want to hear anymore of these lies are reckless spending. we re changing peoples lives. maria: our lives are certainly changing. coming up former secretary of state mike pompeo on the number one threat to today and the mistakes that got us here from foreign policy to economics. as joe biden claims it is bizarre to blame him even as the president s approval rating plummets with key voting blocks abandoning him, minorities, independents and business. these are treacherous times. frankly the lack of leadership in washington is discouraging. for the president of the united states not once, not once, say i made a mistake, this is my fault, if you look every single thing that happened negative, the devil made me do it or somebody else. when is he going to show leadership including belly-up to the bar say this one s on me? maria: coming up the former president of the kansas city federal reserve, tom hoenig a
spenders, let them know, almost $2 trillion in deficit reduction. i don t want to hear anymore of these lies are reckless spending. we re changing peoples lives. maria: our lives are certainly changing. coming up former secretary of state mike pompeo on the number one threat to today and the mistakes that got us here from foreign policy to economics. as joe biden claims it is bizarre to blame him even as the president s approval rating plummets with key voting blocks abandoning him, minorities, independents and business. these are treacherous times. frankly the lack of leadership in washington is discouraging. for the president of the united states not once, not once, say i made a mistake, this is my fault, if you look every single thing that happened negative, the devil made me do it or somebody else. when is he going to show leadership including belly-up to the bar say this one s on me? maria: coming up the former president of the kansas city federal reserve, tom hoenig a
still happen. is it expected? i still happen. is it expected? either way it will have an impact on bitcoin? it either way it will have an impact on bitcoin?- either way it will have an impact on bitcoin? it is not totally done impact on bitcoin? it is not totally done deal impact on bitcoin? it is not totally done deal that - impact on bitcoin? it is not totally done deal that it. totally done deal that it follows from the scc sce losing a court case where the court basically said they had not provided a good reason for not provided a good reason for not approving an etf and sent the sce e away and it seems to be that they do not have a good reason and there for will have to do it. that is expected in a day or two when that is what this is about. as always with changes like that everybody is buying the rumour. that is why bitcoin s prices going up. whether it continues to rise after these etfs is approved is an open question and it is possible that the price may fall back. why i
16%. dan, i want to get your take on growth, why tech stocks take it so hard. even this weekend you look at cryptocurrency, bitcoin fell below 20,000, i believe to 18,000 from high of 65,000 on bitcoin, but before that, tom, you heard what jason smith just said the ranking member on the budget, he thinks in fact inflation gets worse. how much worse do you expect this to get? how much higher to you expect the federal reserve to raise interest rates, tom? i think inflation will probably stay in the 8% range and then depending how, how big of a recession we encounter that will come down once we get started. the real test for the fed, once the recession becomes more apparent, and once that unemployment rate starts going up whether they will stick to their guns. yes, if that spending continues, if the federal reserve backs away its policy because