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  • Oct 09, 2024

Fed Vice Chair Jefferson: Sept rate cut was 'timely'

"It was timely and consistent" with the Fed's two mandates of attaining 2% inflation and maximum employment, Jefferson said at Davidson College in North Carolina. The Fed's success in meeting the first mandate by bringing down inflation, he said, allowed the U.S. central bank "to pay increased attention to the other side of the mandate." Jefferson voted in September with the majority of his colleagues to reduce the Fed's policy rate, marking a turning point in what had been a two-year battle against inflation that took U.S. borrowing costs to their highest levels in decades.

  • Oct 08, 2024

Fed Vice Chair Jefferson: rate cut aimed at keeping US job market strong

"The FOMC has gained greater confidence that inflation is moving sustainably toward our 2% goal," Jefferson said, referring to the rate-setting Federal Open Market Committee, of which he is a member. "To maintain the strength of the labor market, my FOMC colleagues and I recalibrated our policy stance last month."

  • Oct 08, 2024

Guggenheim CIO Says Inflation of Up to 4% Could Be a New Normal

(Bloomberg) -- While price pressures have eased dramatically in the past two years, the war against inflation isn’t over just yet — and factors from spending on pricey artificial intelligence technology to nearshoring may be to blame. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated b

  • Oct 08, 2024

Bitcoin Protocol Babylon Pulls in $1.5B of Staking Deposits as Cap Lifted

Bitcoin protocol Babylon completed its second staking round on Tuesday, increasing deposits to about 24,000 BTC ($1.5 billion) from about 1,000 BTC previously. The staking round was "duration-based," meaning it lasted for 10 Bitcoin blocks. The uptake could show robust demand for a growing decentralized finance (DeFi) ecosystem atop the 15-year-old Bitcoin blockchain, previously confined to alternative networks like Ethereum and Solana.

  • Oct 08, 2024

Wall Street Races to Launch Latest Cohort of Crypto-Spot ETFs

(Bloomberg) -- The race to launch an exchange-traded fund tracking XRP, the seventh-largest digital token, has begun.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShould Evictions Be Banned After Hurricanes and Climate Disasters?Canary Capital Group, a new digital

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