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In addition to its daily SRF operation occurring between 1:30 p.m. and 1:45 p.m. EST, the New York Fed will offer an operation between 8:15 a.m. and 8:30 a.m. each day beginning Dec. 30 through Jan. 3, 2025, it said in a statement. "These additional morning operations are intended to be technical exercises for the purpose of increasing the Federal Reserve’s understanding of how SRF operation times can support effective policy implementation and market functioning during periods of expected money market pressures," the New York Fed said. The SRF is designed to provide liquidity as needed to banks looking to meet short-term funding requirements.

Soho House’s billionaire chairman has revived efforts to take the private members’ club off the US stock market, backing a near $1.8bn (£1.4bn) buyout bid.

On Thursday, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) announced results from its Phase 2 study of suzetrigine for painful lumbosacral radiculopathy (LSR), a disorder that causes pain in the lower back and hip that radiates down the back of the thigh into the leg. The study met its primary endpoint with a statistically significant and clinically meaningful reduction in pain on the numeric pain rating scale (NPRS). The suzetrigine arm showed a statistically significant and clinically mean

“I think the most ironic way the world could end would be if someone makes a memecoin about a man’s stretched anus and it brings about the singularity.” That’s Andy Ayrey, the founder of decentralized AI alignment research lab Upward Spiral, who is also behind the viral AI bot Truth Terminal. You might have heard about Truth Terminal and its weird, horny, pseudo-spiritual posts on X that caught the attention of VC Marc Andreessen, who sent it $50,000 in bitcoin this summer. Or maybe you’ve heard

Micron Technology shares tanked Thursday after the chipmaker warned about near-term demand issues.

(Bloomberg) -- Bulls stormed into the stock market at the start of trading Thursday, snapping up shares suddenly on sale less than 24 hours after the Federal Reserve’s hawkish pivot sparked a historic rout.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalBut as Thursday’s session wears on and equity indexes trim or lose the

Grayscale's Zach Pandl on why Bitcoin looks poised for strength, despite Fed-triggered selloff.

WASHINGTON (Reuters) -The number of Americans filing new applications for jobless benefits fell more than expected last week, almost reversing the prior two weeks' increases and suggesting that a gradual labor market slowdown remained in place. Other data on Thursday showed the economy grew faster than previously estimated in the third quarter, driven by robust consumer spending. The upbeat reports came a day after the Federal Reserve delivered a third consecutive interest rate cut, but projected only two rate reductions in 2025, citing the economy's continued resilience and still-elevated inflation.

Vertex said the Phase II trial met its primary endpoint, however there was only a minor difference to placebo.

The International Monetary Fund views Wednesday's Federal Reserve interest rate cut and adoption of a more cautious outlook as appropriate given high U.S. economic uncertainty, IMF spokesperson Julie Kozack said on Thursday. "Data from the last few months shows that the labor market continues to cool at the same time that inflation has been somewhat higher than expected, but still trending down toward the target," Kozack told a news briefing. "So with this background, we see the Fed's action as appropriate."