Two Federal Reserve officials shed light Friday on how the central bank is navigating the fog of uncertainty about what President Donald Trump will do next when it comes to imposing tariffs, and how the import taxes will affect inflation and unemployment.
U.S. may sell Fort Knox gold for Bitcoin — If it’s 'budget-neutral,' says Trump adviser
When asked if the US government could sell some gold stored in Fort Knox to buy Bitcoin, President Trump’s crypto director Bo Hines gave an interesting answer.
Cryptocurrency firm founder pleads guilty in US to market manipulation scheme
The founder of a cryptocurrency financial services firm pleaded guilty on Friday to U.S. charges that he participated in a wide-ranging scheme to manipulate the market for digital tokens on behalf of client companies. Aleksei Andriunin, the founder and CEO of cryptocurrency "market maker" Gotbit, and his company entered guilty pleas in federal court in Boston to charges that they conspired to commit market manipulation and committed wire fraud. They were among 15 people and three firms charged following a novel investigation dubbed "Operation Token Mirrors," in which the FBI for the first time directed the creation of its own digital token to help catch fraudsters in the crypto market.
Fed Officials Echo Powell, Downplay Rising Price Expectations
(Bloomberg) -- Two Federal Reserve officials on Friday echoed comments from Chair Jerome Powell earlier this week, downplaying the recent rise in a key measure of long-term inflation expectations but emphasizing the outlook is highly uncertain.Most Read from BloombergChicago Transit Faces ‘Doomsday Scenario,’ Regional Agency SaysThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.LA Faces $1 Billion Budget Hole, Warns of Thousands of LayoffsNew York Subway Ditches MetroCard After 32 Y
US oil and gas rigs rise for first time in three weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 593 in the week to March 21. Despite this week's rig increase, Baker Hughes said the total count was still down 31 rigs, or 5% below this time last year.
Supermicro Stock Jumps to Lead S&P 500 Gainers as JPMorgan Boosts Rating
Super Micro Computer shares surged to lead gains on the S&P 500 Friday, as JPMorgan analysts lifted their rating and price target for the server maker's stock.
Fed posts smaller loss on operations in 2024
The Federal Reserve said on Friday it generated a smaller loss on its operations last year than in 2023 as its ongoing work to contain inflation kept its books in the red. The U.S. central bank said the total distribution of its comprehensive net loss last year stood at $77.5 billion versus $114.6 billion in 2023. The Fed last turned a profit in 2022.
Trump Adviser Calls to End Muni Tax Break in Threat to Market
(Bloomberg) -- Stephen Moore, an informal economic adviser to President Donald Trump, floated eliminating the federal tax subsidy for municipal bonds, a concerning sign for the market where states and cities raise debt.Most Read from BloombergChicago Transit Faces ‘Doomsday Scenario,’ Regional Agency SaysNew York Subway Ditches MetroCard After 32 Years for Tap-And-GoLA Faces $1 Billion Budget Hole, Warns of Thousands of LayoffsDespite Cost-Cutting Moves, Trump Plans to Remake DC in His StyleAmtr
Crypto Weekly: Bitcoin stalls, Kraken goes big, Pakistan accelerates, Onramp gets insured
Bitcoin’s price holds steady with bullish signals ahead, while Kraken’s $1.5B acquisition gains industry support, Pakistan accelerates blockchain adoption, and Bitcoin custody security gets a $100M boost.
Micron Stock Falls but Analysts Are Bullish Despite Gross Margin 'Fly in the Ointment'
Shares of Micron Technology turned lower Friday after the company’s fiscal second-quarter results a day earlier, but analysts have remained bullish on the memory chip company.