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How Sam Bankman-Fried and other crypto heroes went to zero
As revelations pile up in the criminal trial of Sam Bankman-Fried, the cryptocurrency world has been left without any high-profile cheerleaders who might seem worthy of trust or admiration to the general public. Why it matters: Bankman-Fried, the founder of the now-bankrupt crypto exchange FTX, was, briefly, about as close as anyone to achieving the status of crypto hero. Now that he's finding himself elevated to the highest tier of villains, there's no one left to root for or get behind. The impact: "People in the world of capital formation and allocation have to be presumed guilty ... until a rigorous and ... (full story)
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post: <=USD>:*POWELL: MAY BE THAT RATES HAVEN'T BEEN HIGH ENOUGH LONG ENOUGH ?*POWELL: DON'T SEE FUNDAMENTAL SHIFT IN WAY RATES AFFECT ECONOMY post: FED'S POWELL: ECONOMY IS VERY RESILIENT, GROWING STRONGLY FED'S POWELL: GROWTH IS RUNNING ABOVE IT'S LONGE RUN TREND, IS A SURPRISE FED'S POWELL: ECONOMY IS A STORY OF STRONGER DEMAND || SAYS MAY BE WAYS ECONOMY IS LESS AFFECTED BY INTEREST RATES post: POWELL: WE SHOULD BE SEEING EFFECTS OF MONETARY POLICY ARRIVING post: FED'S POWELL Q&A/ECNY: LOT OF UNCERTAINTY AROUND LAGS IN POLICY EFFECT, A REASON FOR CAUTION; HAVE TO BE PATIENT; MOVING 'CAREFULLY' #Powell #FederalReserve #econom post: FED'S POWELL: IT DOES NOT FEEL LIKE POLICY IS TOO TIGHT
The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, ...
Before our discussion, I will take a few minutes to discuss recent economic data and the outlook for monetary policy. Recent Economic Data Incoming data over recent months show ongoing progress toward both of our dual mandate goals—maximum employment and stable prices. Inflation By the time the Federal Open Market Committee (FOMC) raised rates in March 2022, it was clear that restoring price stability would require both the unwinding of pandemic-related distortions to supply and demand, and also restrictive monetary policy to cool strong demand and give supply time to catch up. These forces are now working together to bring inflation down. After peaking at 7.1 percent in June 2022, 12-month headline PCE (personal consumption expenditure) inflation is estimated at 3.5 percent through September.1 Core PCE inflation, which omits the volatile food and energy components, provides a better indicator of where inflation is heading. Twelve-month core PCE inflation peaked at 5.6 percent in February 2022 and is estimated at 3.7 percent through September. Inflation readings turned lower over the summer, a very favorable development. The September inflation data continued the downward trend but were somewhat less encouraging. Shorter-term measures of core inflation over the most recent three and six months are now running below 3 percent. But these shorter-term measures are often volatile. In any case, inflation is still too high, and a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal. We cannot yet know how long these lower readings will persist, or where inflation will settle over coming quarters. While the path is likely to be bumpy and take some time, my colleagues and I are united in our commitment to bringing inflati post: <=USD>:*POWELL: FOMC `PROCEEDING CAREFULLY' GIVEN RISKS, HIKES SO FAR ?*POWELL:`ADDITIONAL EVIDENCE' OF STRONG ECONOMY MAY MERIT HIKING post: POWELL: GEOPOLITICAL TENSIONS `HIGHLY ELEVATED,' POSE KEY RISKS post: POWELL: THERE MAY STILL BE MEANINGFUL TIGHTENING IN THE PIPELINE post: Fed's Powell: The Fed's role is to monitor highly elevated geopolitical tensions that pose important risks to global economic activity -The extent of additional policy firming and how long to keep policy restrictive will depend on data, outlook, balance of risks
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post: *DRONES ATTACK US MILITARY BASE IN SOUTHERN SYRIA: APDrones attack a US military base in southern Syria and there are minor injuries, US officials say A military base in southern Syria where U.S. troops have maintained a presence to train forces as part of a broad campaign against the Islamic State group was attacked by drones on Thursday, two U.S. officials told The Associated Press. One drone was shot down, but another caused in minor injuries, said one of the officials, who spoke on condition of anonymity to discuss the matter before an official announcement about the incident. The attacks follow similar drone strikes over the past few days against U.S. and coalition bases in Iraq amid simmering anger in the region after an explosion at a Gaza hospital killed hundreds of people. The al-Tanf garrison in southeastern Syria is located at a sensitive juncture often used by Iranian-backed militants to ferry weapons to Hezbollah.
The Treasury Department is planning to designate international crypto mixers as money-laundering hubs, citing Hamas' use of them along with other terrorist groups, according to ...
In one of the most volatile weeks for the crypto markets, Bitcoin (BTC) price is stabilizing around the range high. After a rejection from the $30,000 earlier this week, the ...
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- Posted: Oct 19, 2023 12:48pm
- Submitted by:Category: Entertainment NewsComments: 0 / Views: 185