In Summary
In this month’s CIO Monthly Perspective, “The Petrodollar Turned 50,” Rockefeller Global Family Office Chief Investment Officer Jimmy Chang explores the historic and ongoing significance of the petrodollar, and how the Fed’s interest rate cutting cycle and the U.S.’ general election outcome could impact markets moving forward.
Following a month marked with softer-than-expected inflation readings and a Big Tech sell-off, investors are still holding on to hopes for a potential ‘Goldilocks’ soft-landing, but many are becoming concerned that the Fed may already be behind the curve. Meanwhile, speculation regarding the future of the petrodollar arrangement and increasing efforts to de-dollarize have driven increased demand for gold in what investors believe to be a risk-mitigating asset.
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