As of September here, the anticipation is high that the Federal Reserve’s Federal Open Market Committee (FOMC) meeting, scheduled for 17 and 18 of this month, might decrease the federal funds rate. Notably, the prediction platform, Polymarket, traders are betting on the federal rate cut with a $10.9 million volume.
Following last month’s ruling by a Wyoming court that Custodia Bank did not have the right to a Federal Reserve master account, the digital asset bank filed a notice of appeal on Friday. As the latest development in a long-running dispute over the bank’s potential access to the central bank’s
Custodia Bank CEO Caitlin Long discussed the ways in which the court’s ruling in the case involving the Federal Reserve is limiting technological innovation in a conversation with FOX Business correspondent Eleanor Terrett. The Custodia Bank has previously sought oversight from the Federal Reserve System of the United States. The
A decision to maintain unchanged interest rates has been made by the Federal Reserve. Based on this decision, the benchmark overnight interest rate will remain between 5.25% and 5.50%. The decision follows two years of vigorous monetary policy tightening by the Federal Reserve. The action was taken in reaction to
According to Federal Reserve governor Christopher Waller, the dollar’s position as a worldwide reserve currency may be being solidified by the widespread use of stablecoins denominated in U.S dollars in the decentralized finance (DeFi) space. Waller said at a central banking-focused conference on February 15 that the U.S. dollar is
NASSAU, Bahamas–(BUSINESS WIRE)–Quantfury Trading Limited (“Quantfury”), a global multi-asset brokerage firm, announces that effective today, clients will earn 5.75% in USD and USD stablecoins on instantly available cash balances. Unlike other brokerages and trading platforms, Quantfury pays interest daily, based on the leading economic indicator and directly to client spot
On Wednesday, Bitcoin and Ethereum values touched their highest point in six weeks, marking a general resurgence in the cryptocurrency market. In the previous day, the price of Bitcoin has increased by 8% to over $29,000, while the price of Ethereum has increased by 6% to over $1800. Meanwhile, in
In order to bring inflation under control, the International Monetary Fund (IMF) advises the Federal Reserve of the United States to maintain hiking interest rates for a longer length of time. The IMF also recommended that the Biden administration use stricter fiscal policies to bring down the national debt. Under
FedNow is an initiative of the Federal Reserve Bank for a new, enriched payment service. The announcement is about launching this payment service in the upcoming July 2023. It is one of several services of the Federal Reserve, including FedWire, a credit transfer service, and FedACH, an automated clearing house.
According to Florida Governor Ron DeSantis, a digital dollar issued by the Federal Reserve would be a danger to financial independence in the United States, in light of the recent FedNow announcement. The probable presidential candidate of 2024 claims that the government may use a CBDC for evil purposes, including
