Bitcoin Cash (CRYPTO: BCH) was something of an outlier in a good way, with a more than 23% rise. On Wednesday, President Donald Trump elected to grant a one-month exemption to the freshly introduced tariffs on imports from those countries, specifically to automobile manufacturers.
Economic forecasts have been weakening. While some see slower growth, several commentators see the chance of an outright recession rising this year.
(Bloomberg) -- The world’s recent experience of faster inflation may make it harder for central banks to control prices in future, former US Federal Reserve Chair Ben Bernanke said.Most Read from BloombergTrump Administration Plans to Eliminate Dozens of Housing OfficesRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’How Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sinking With Gauge Falling to 11-Year LowHow Sanctuary Cities Are Fighting Trump, AgainResponding to
Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) are two of the most successful cryptocurrencies, both ranking in the top 10 by market cap. Because Ethereum launched in 2015, five years earlier than Solana, it established a big early lead in terms of popularity and usage. Over the last year, Solana's price has risen by 10%, whereas Ethereum's has fallen by over 30%.
(Bloomberg) -- The current debt-ceiling impasse could threaten the Federal Reserve’s ongoing balance-sheet runoff causing gyrations in the central bank’s liabilities that create volatility in money-market rates, according to the Federal Reserve Bank of New York’s Roberto Perli. Most Read from BloombergTrump Administration Plans to Eliminate Dozens of Housing OfficesRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’How Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sin
A Federal Reserve Bank of New York official who manages the implementation of monetary policy indicated Wednesday the central bank has room to further shrink its balance sheet, while noting government financial management issues will create challenges for the process over the short run. Market indicators “are telling us that reserve conditions are currently abundant, as they have been for quite some time,” said Roberto Perli, who manages the Fed’s System Open Market Account, its portfolio of bonds, cash and other assets, which currently stand at $6.8 trillion. Perli’s comments suggest that all else being equal, there’s no imminent need to end the contraction of Fed holdings known as quantitative tightening, or QT.
US stocks rose on hopes that President Donald Trump's latest tariffs would be short-lived, while Asian and European markets made gains.
El Salvador announced on Wednesday the purchase of a bitcoin, which takes the total in the country's strategic reserve to above 6,102 coins, the National Bitcoin Office posted on social media. The bitcoin purchase announcement comes days after the International Monetary Fund board approved a 40-month program with El Salvador for $1.4 billion that implied a downgrade of the cryptocurrency's status in the Central American country. Bitcoin cannot be used to pay taxes and its acceptance by the public is voluntary, which is not what was expected when it was given a legal tender status back in 2021.
A weekly look at the most important news and moves in crypto, and what’s on the horizon in digital assets.
The communications startup is coordinating a global network of fiber optic cables.
