Powell and Governor Cook join tech roundtable at Spelman College to engage with local innovation and entrepreneurship leaders.
US jobless claims up 7,000 to 218,000 in the week ending Nov. 25, with the previous week's level revised up by 2,000.
US consumer spending rose moderately in October, with inflation's smallest annual increase since early 2021, suggesting a cooling demand and potential end to Fed rate hikes.
In the last 24 hours, the cryptocurrency markets experienced a decline, leading to a 3-point decrease on the "Greed and Fear Index." This has brought the current reading to 71 on the scale ranging from 0 to 100.
Bitcoin, the world's oldest and most valuable cryptocurrency, maintained its position above the $38,000 threshold early on Friday.
Various popular altcoins, including Ethereum, Solana, Ripple, Litecoin, and Dogecoin, displayed marginal gains across the spectrum.
Notably, the Celestia token emerged as the standout performer, registering an impressive 13 percent surge over the past 24 hours.
On the flip side, IOTA, which experienced a notable 43 percent gain yesterday, turned out to be the biggest loser on Friday, witnessing a 24-hour decline of nearly 4.50 percent.
US initial jobless claims increased by 7,000 to 218,000 last week, below the estimated 220,000. The revised four-week average decreased by 500. In October, the economy added 150,000 jobs, and the unemployment rate rose to 3.9% from 3.8% in September.
US consumer spending moderately increased in October, with the smallest annual inflation rise since early 2021, indicating cooling demand and potentially concluding the Federal Reserve's rate-hiking campaign.
Federal Reserve Chair Jerome Powell engages in an economic discussion amid cooling inflation, plunging treasury yields, and recent dovish signals. Investors await hints of a pivot or a more hawkish stance. US consumer spending, inflation, and the job market show signs of slowing, aligning with the Fed's desired soft landing. Concerns arise about timing a potential rate adjustment, with opinions divided on whether it may occur too early or too late. "The Fed is on hold for now, but their pivot to rate cuts is getting closer," notes Bill Adams, Chief Economist at Comerica Bank.
The Ethereum team announced the end of support for the Goerli testnet, with the final Dencun upgrade leading to validators' exit. Users are advised to migrate to Sepolia for stable testing, while developers explore the Holesky and Ephemery testnets. Ethereum's upcoming Danksharding upgrade aims to boost scalability and decentralization.
Colombian President Gustavo Petro has become a Bitcoin holder after receiving a gift of 100,000 sats from CEO Samson Mow. Petro sees promise in cryptocurrency technology for Colombia's people, expressing intent to explore its use in public administration. In South America, El Salvador's Bitcoin adoption leads, while Argentina's new president signals potential crypto collaboration.
Anthony Scaramucci expresses optimism for SEC approval of spot Bitcoin ETFs, citing BlackRock meetings as a positive sign. Bitcoin maintains $37,000 level. Scaramucci predicts approval by January 10, 2023, with financial giants like BlackRock, Fidelity, Valkyrie, and ARK Invest vying for the first-ever spot Bitcoin ETF.
Binance launches a pilot program enhancing institutional trading safety by allowing collateral storage with third-party banks. This innovative approach addresses counterparty risk concerns, mirroring traditional finance practices. Institutions can opt for cash or Treasury bonds, earning yields while actively trading in the crypto market.
The SEC opens public comments on Fidelity's proposal for a spot Ethereum ETF, marking a pivotal moment for crypto integration in mainstream finance. Fidelity aims to fill the gap in the U.S. market for regulated Ether exposure, emphasizing potential benefits for investors and risk management. Approval could advance crypto's acceptance in mainstream finance.
Elon Musk's criticism of Disney and defiant stance on advertiser exits from his X platform reportedly led to mass cancellations of Disney+ and Paramount Plus subscriptions. Musk's controversial profile and recent endorsements triggered advertiser withdrawals, including Disney and Apple, impacting the X platform.
Circle denies allegations of involvement in illicit financing activities, refuting claims of providing services to Justin Sun, TRON Foundation, or Huobi Global. Circle emphasizes its commitment to lawful operations and terminated all accounts associated with Sun in February 2023.
COIN GABBAR Views: As December unfolds, can bulls breach 18-month and yearly highs? Is Bitcoin poised to drop? Will the Santa Claus rally commence? Could BTC reach $50,000 before the year-end in 2023? To get latest news Stay tuned us at coingabbar
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