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  • Nov 14, 2024

Traders Trim Bets for December Fed Rate Cut on Powell’s Caution

(Bloomberg) -- Traders pared back their expectations for an interest-rate cut in December and policy-sensitive US yields jumped after Federal Reserve Chair Jerome Powell said economic resilience gives officials room to ease more carefully.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndNYC Congestion Pricing Plan With $9 Toll to Start in JanuarySaudi Neom Gets $3 Billion Loan Guarantee From Italy Export C

  • Nov 14, 2024

Powell says Fed will likely cut rates cautiously given persistent inflation pressures

Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed's officials want to see where it heads next. Powell, speaking in Dallas, said that inflation is edging closer to the central bank's 2% target, “but it is not there yet." “The economy is not sending any signals that we need to be in a hurry to lower rates,” the Fed chair said.

  • Nov 14, 2024

Fed’s Powell Says No Need to Hurry Rate Cuts With Economy Strong

(Bloomberg) -- Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndNYC Congestion Pricing Plan With $9 Toll to Start in JanuarySaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over

  • Nov 14, 2024

Man who stole and laundered roughly $1B in bitcoin is sentenced to 5 years in prison

A computer expert who stole bitcoin worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — was sentenced on Thursday to five years in prison. Ilya Lichtenstein masterminded one of the largest-ever thefts from a virtual currency exchange before he and his wife, Heather Rhiannon Morgan, carried out an elaborate scheme to liquidate the stolen funds, according to federal prosecutors. U.S. District Judge Colleen Kollar-Kotelly told Lichtenstein that his theft was “meticulously planned” and not an impulsive act.

  • Nov 14, 2024

Emerging-Market Assets Fall for Fifth Day as Dollar Strengthens

(Bloomberg) -- Developing-nation currencies, stocks fell for a fifth day, deepening losses amid broad risk-off sentiment as the US dollar advanced as traders reassess how deeply the Federal Reserve will cut interest rates.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsA

  • Nov 14, 2024

Fed has time to see what Trump policies mean for the economy, Powell says

Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank has time before it needs to adapt its policymaking thinking due to the return of President-elect Donald Trump to the White House. "I think it's too early to reach judgments here" and "we don't really know what policies will be put in place," Powell said at a Dallas Fed event. Powell said the Fed will watch to see what elected officials do - Republicans won control of both houses of Congress in the Nov. 5 elections.

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