You might not expect the Federal Reserve Chair, Jerome Powell, to influence bitcoin's value. But during a recent talk with CNBC, Powell’s comments gave bitcoin a boost. He revealed he doesn't own any crypto and noted that the Fed can't control it. But when he compared bitcoin to gold, people took no
Imagine this—Bitcoin exchange-traded funds (ETFs) in the US now hold over a million tokens, roughly 5% of the total supply. That's almost the same amount the mysterious creator, Satoshi Nakamoto, owns! But here's a twist: a Senate ally of former President Trump wants to sell some Federal Reserve gol
Last week, Federal Reserve Chairman Jerome Powell spoke at an event in Dallas. He emphasized the importance of the Fed's independence from politics. Powell got a big laugh from the crowd when he avoided talking about President Trump's plans to deport undocumented immigrants. He made it clear that po
Wall Street celebrated Donald Trump's presidential win with a bang! The Dow Jones Industrial Average climbed over 44, 000 for the first time, while the S&P 500 broke the 6, 000 barrier. Investors were thrilled about the possibility of a Republican sweep in Congress, hoping for business-friendly poli
Federal Reserve Chairman Jerome Powell has been skillfully avoiding questions about President-elect Donald Trump. However, as Trump's ambitious economic agenda takes shape, Powell might not be able to dodge the topic forever. Trump's plans include significant tax cuts, increased government spending,
In a recent announcement, the Federal Reserve decided to lower their key interest rate by a small amount. This move comes as inflation is getting closer to the central bank's target of 2%. The Fed noted that while inflation is still a bit high, unemployment is low. They also mentioned that the job m
The Federal Reserve is set to lower interest rates this week, but this time it's not about boosting a struggling economy. Instead, they're responding to lower inflation rates. The upcoming presidential election might not change this decision right away, but the winner could influence what the Fed do
In September, inflation inched up, drawing closer to the Federal Reserve’s target. The personal consumption expenditures price index saw a 0. 2% increase, with an annual rate of 2. 1%, right in line with predictions. The Fed heavily relies on PCE readings, though they also consider other indicators.
You know how often people worry about economic slowdowns? Well, the U. S. economy showed it wasn't bothered by such fears in the third quarter of 2024. It grew at a steady pace of 2. 8%, which is a bit less than expected but still solid. Consumers were the heroes, spending more than they were suppos
As the United States gears up for Election Day, American consumers are showing a significant boost in confidence, according to a recent report by a business research group. The Consumer Confidence Index, which measures both current economic conditions and future expectations, jumped to 108. 7 in Oct
