Traders boost bets Fed goes big on Sept rate cut
But as Powell during his post-meeting news conference repeatedly said the central bank has room to respond if the labor market unexpectedly weakens, markets began a turn. Rate futures prices now reflect about a 17% chance of a 50-basis point rate cut in September, versus about 5% before Powell began speaking. Prices also reflect increased confidence the Fed will cut a total of 75 basis points over its final three meetings of the year, most likely in 25-basis-point increments, bringing the policy rate down to a 4.5%-4.75% range.
The Protocol: Bitcoin Gets Political as U.S. Government Ponders Airdrops
In this week's issue of CoinDesk's newsletter on blockchain tech, we examine U.S. Senator Cynthia Lummis's call for a national "Bitcoin Strategic Reserve." We've also got phot...
It's a Different Sort of Olympics as Cryptographers Face Off in Polyhedra's 'Proof Arena'
This team of cryptographers claimed their "prover" – a key component of many blockchain systems – was faster than anyone else's. Now they've built a platform they say will pro...
Crypto startups to see $12 billion of venture capital funding in 2024
They've already attracted $5.5 billion in investments this year.
Tether Nets $5B Profits This Year, Says Its U.S. Debt Holdings Surpassed Germany's
The company said its $97 billion exposure to U.S. Treasuries would put it 18th in the ranking among countries.
Trump reportedly raises more than $20 million at The Bitcoin Conference
Trump notched a solid fundraise after his keynote speech at the Bitcoin Conference sold industry leaders and enthusiasts
Economists Skeptical About Trump's Bitcoin Stockpile Plan: A Game-Changer Or A Mere Election Gimmick?
In a surprising move, former US President Donald Trump has proposed a plan to establish a national bitcoin stockpile if he is reelected. This announcement has left economists and financial experts scratching their heads. What Happened: As reported by Wired on Thursday, Trump unveiled his plan at the Bitcoin 2024 conference in Nashville, Tennessee. He pledged to retain all bitcoin currently held or acquired by the US government in the future, estimated to be around 210,000 bitcoin, worth approxim
Fed Holds Policy Steady, Expresses More Caution Than Expected on September Rate Cut
Prior to today's meeting, markets had priced in a 100% chance of a rate cut at the bank's September meeting.