Bitcoin is in a “macro tug-of-war” as asset struggles to recover

Thank you for joining me today. It is an honor to be in the beautiful state of New Mexico, and in Albuquerque, one of the largest cities in the seven-state region that makes up the Federal Reserve’s Tenth District. The Federal Reserve’s regional structure, with 12 independent and locally rooted district banks spread across the country, is one of the most defining features of the nation’s central bank. These regional banks, including the Kansas City Fed, work alongside the Board of Governors, located in Washington, D.C., to set monetary policy and influence interest rates across the entire economy. This system of regional input in setting monetary policy, which is unique to the United States, ensures that a wide variety of voices and views, including yours, inform some of the most important economic decisions in our country. From Kansas City and our offices in Denver, Omaha, and Oklahoma City, the Bank engages with local communities, listening and collecting insights and data that shape policy. I personally find speaking to individuals about their economic lives to be one of the most enriching parts of my job, and I take every opportunity I can to travel throughout the district. Speaking of travel, I would like to b FED'S SCHMID SAYS APPROPRIATE TO KEEP RESTRICTIVE MONETARY POLICY WITH INFLATION CLOSE TO 3% FED'S SCHMID SAYS NOT SEEING EVIDENCE CURRENT LEVEL OF INTEREST RATES IS RESTRAINING ECONOMY SCHMID: FURTHER FED RATE CUTS COULD ALLOW HIGHER INFLATION TO PERSIST FOR LONGER FED'S SCHMID: PRODUCTIVITY IMPROVEMENTS COULD ALLOW FASTER GROWTH WITHOUT INFLATION, BUT 'WE ARE NOT THERE YET' - CURRENT INFLATION RATE INDICATES STILL-STRONG DEMAND IS OUTPACING IMPROVEMENTS IN SUPPLY

US Treasury Secretary Bessent: Trump is laser-focused on the housing market. BESSENT: I SEE A PICKUP IN MANUFACTURING JOBS IN THE COMING MONTHS BESSENT: I EXPECT A CONTINUED PICKUP IN CONSTRUCTION JOBS. ... US TREASURY SECRETARY BESSENT SAYS THE U.S. IS TRACKING FUNDS SENT AROUND THE WORLD BY IRAN’S LEADERSHIP