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  • Aug 21, 2024

Dollar drops as jobs revised lower, some Fed officials wanted July cut

The release comes before a highly anticipated speech by Federal Reserve Chair Jerome Powell at the Kansas City Fed's Jackson Hole economic symposium on Friday, which will be watched for any new clues on his view of the labor market. "It probably puts more weight on Powell's appearance at Jackson Hole," said Vassili Serebriakov, an FX strategist at UBS in New York. Markets are looking for clarity on the likely size of a rate cut at the Fed's Sept. 17-18 meeting, and whether borrowing costs are likely to be lowered at each subsequent Fed meeting.

  • Aug 21, 2024

The Protocol: Now Everyone's Putting a Wrapper on Bitcoin

In this week's issue of CoinDesk's newsletter on blockchain technology, we're covering the drama surrounding "wrapped bitcoin" as Tron founder Justin Sun assumes a custody role, signs of upheaval in the Urbit ecosystem and the rise of dark pools on Ethereum.

  • Aug 21, 2024

Fed Minutes Show Several Saw Case for Cutting Rates in July

(Bloomberg) -- Several Federal Reserve officials acknowledged there was a plausible case for cutting interest rates at their July 30-31 meeting before the central bank’s policy committee voted unanimously to keep them steady.Most Read from BloombergThe Serious Work That Free Play Can Do“Several observed that the recent progress on inflation and increases in the unemployment rate had provided a plausible case for reducing the target range 25 basis points at this meeting or that they could have su

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