Caitlin Long, CEO of Custodia Bank, asserts, “The law is very clear,” with the exception of the Fed’s involvement. She noticed Amsterdam-based Adyen among the first group of 35 financial institutions that were granted access to the new 24-hour payment system FedNow on Thursday. The financial technology business got a
According to the U.S. Bureau of Labor Statistics, inflation measured by the annual change in the Consumer Price Index (CPI) was 3% in June, beating market estimates of 3.1%. In addition, Core CPI inflation falls to 4.8% from 5.3% in May, the lowest level seen since November 2021. This allows
The U.S. June Consumer Price Index (CPI) will be released on Wednesday, and the PPI will be released the following day, bringing attention back to inflation statistics after a week of major employment announcements. In the event of a drop, investors may hope that the Federal Reserve would reconsider its
Recently, U.S. Federal Reserve Chairman Jerome Powell expressed optimism about the cryptocurrency market. In his testimony before Congress, Powell defended the sustainability of cryptocurrencies as an investment category in the United States. Witnessing before the House Committee on Financial Services about the Federal Reserve’s Semiannual Monetary Policy Report, Powell made
After a period of bated breath, the Federal Reserve’s June meeting minutes are now public. Significantly, these insights could ripple through the policy-sensitive rates and Treasury yields, critical players in the global cryptocurrency game. In a surprising twist, the Fed elected to break its ten-meeting streak of interest rate hikes.
On June 29th, the Federal Reserve announced the certified “early adopters” for FedNow, the planned instant payment system. When the platform starts in late July, the companies on the approved list will be able to connect with it without any problems. Despite at least two blockchain networks earlier announcing they
On Wednesday, at a panel discussion of central bankers organized by the ECB in Sintra, Portugal, Federal Reserve Chair Jerome Powell reiterated the Fed’s hawkish approach. Powell stressed that the Fed is not done managing inflation and indicated the potential of consecutive interest rate rises ahead of the next Federal
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
U.S. Consumer Price Index (CPI) numbers for May 2023 were issued by the Bureau of Labour Statistics on Tuesday. The authorities said that the CPI for all urban consumers grew 0.1% in May after adjusting for seasonal factors and increased by 4% over the previous 12 months. As a result,
During the last Federal Open Market Committee (FOMC) meeting in May, the chairperson of the Federal Reserve System (FED), Jerome Powell conveyed that the Central Bank in the U.S. won’t be proceeding with the hikes but rather will halt for a period. However, the upcoming FOMC meeting on June 13-14
