Richmond Fed president Tom Barkin said Friday that he expects inflation will continue to drop into next year and hinted at slowing down the pace of rate cuts.
The bitcoin maximalist is bullish on the cryptocurrency in the aftermath of Trump's successful White House bid.
A cryptocurrency plant in central New York can continue operating after a court rejected the state’s effort to shutter the facility over concerns about its climate impact. The decision was hailed as a victory by Greenidge Generation, a large-scale crypto mine in the Finger Lakes region that has drawn the ire of environmental groups and watchdogs since it began mining bitcoin four years ago. Like other large-scale crypto-mining operations, Greenidge relies on thousands of electricity-guzzling computer servers that generate bitcoin by solving complex equations.
A bitcoin hack that's now worth billions of dollars and a scheme to launder those proceeds resulted in Ilya Lichtenstein being sentenced to five years in prison.
Wealth management clients of Wall Street banks like Goldman Sachs, Bank of America, Morgan Stanley in the third quarter continued to modestly accumulate (or trade) bitcoin via the spot bitcoin exchange-traded funds.
Here are the stocks making the biggest market moves midday.
The office, known for high-profile crypto cases, will allocate fewer resources to pursuing crypto firms in Trump's second term, a report says.
"I think we are going to be looking at rates coming down over the next year along the line the dot-plot said," Goolsbee told Bloomberg TV, referring to Fed projections released in September that depict the rate-path forecasts of the Fed's 19 policymakers as dots on a chart. The median view of that dot plot was for the Fed policy rate to end this year at 4.4%, a quarter of a percentage point below where it is today, and to be 3.4% by the end of next year.
Bank stocks surged broadly on Trump's win, with investors anticipating deregulation and pent-up M&A demand to be unlocked.
The recent U.S. presidential election results, including a Republican sweep, have raised questions about the future of renewable energy under President-elect Donald Trump’s leadership. Morgan Stanley’s report evaluates the economic impact on renewables under various policy scenarios and its effects on earnings. The analyst has adjusted its view on the clean tech industry to “In-Line” from “Attractive.” Also Read: Solar, Renewables Stocks Crash After Trump Win: Should You Buy Now At Cheap Valuati
