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'Crypto Mom' Hester Peirce says pro-crypto regulations are coming in a new Coinage interview

Federal Reserve Bank of New York President John Williams said Friday he expects the central bank to deliver more interest rate cuts but noted that what happens will be driven by incoming data, amid a policy that is still providing restraint on the economy's momentum. Even with this week's rate cut Williams thinks "we're pretty restrictive" with monetary policy, meaning short-term rates are continuing to restrain the economy, which should help further an easing in inflation pressures, he told CNBC in an interview. As for where the Fed goes next with monetary policy, "the baseline trajectory is moving down towards neutral rates," Williams said, suggesting some sort of rate cut combinations were still in his outlook.

Markets saw a brief reprieve Friday as the Federal Reserve’s preferred inflation gauge came in below expectations, tempering concerns of mounting volatility after this week's hawkish policy pivot. The Personal Consumption Expenditures price index rose 2.4% year-over-year in November, missing the 2.5% forecast. On a monthly basis, the gauge slowed to 0.1%, down from 0.2% in October and below projections for steady growth. Core PCE, which excludes food and energy, remained at 2.8% annually, slight

The U.S. Securities and Exchange Commission (SEC) has approved the first crypto index exchange-traded funds (ETFs) from Hashdex and Franklin Templeton.

Tokyo-based investment firm Metaplanet Inc. has successfully raised 9.5 billion yen (approximately $60.6 million) by issuing two tranches of bonds to enhance its Bitcoin acquisition strategy.

(Reuters) -Federal Reserve policymakers, fresh from an interest rate cut this week, on Friday signaled their readiness to take a break from further reductions in borrowing costs next year as they take stock of progress to lower inflation. San Francisco Fed President Mary Daly, who supported the U.S. central bank's decision on Wednesday to cut its benchmark overnight rate by a quarter of a percentage point to the 4.25%-4.50% range, and Cleveland Fed President Beth Hammack, who dissented against it, said the decision was a "close call." And while Daly and New York Fed President John Williams both said they felt the central bank would likely resume the rate-cutting next year, neither suggested any need to hurry.

WASHINGTON (Reuters) -U.S. consumer spending increased in November amid strong demand for a range of goods and services, underscoring the economy's resilience, which saw the Federal Reserve this week projecting fewer interest rate cuts in 2025 than it had in September. The report from the Commerce Department on Friday showed moderate monthly rises in prices, with a measure of underlying inflation posting its smallest gain in six months. "The economy continues to grow from strong consumer demand as income growth and the wealth effect from higher portfolio values give consumers capacity to spend," said Jeffrey Roach, chief economist at LPL Financial.

An inflation gauge that is closely watched by the Federal Reserve barely rose last month in a sign that price pressures cooled after two months of sharp gains. The milder inflation figures arrive two days after Federal Reserve officials, led by Chair Jerome Powell, rocked financial markets by revealing that they now expect to cut their key interest rate just two times in 2025, down from four in their previous estimate. Stickier inflation, Powell said, “might be the single biggest factor” causing the central bank to reduce the number of rate cuts it envisions.

The benchmark S&P 500 is up more than 23% for 2024, even after a major stumble this week, and Wall Street has historically often enjoyed a strong annual close. Since 1969, the last five trading days of the year combined with the first two of the following year have yielded an average S&P 500 gain of 1.3%, a period known as the "Santa Claus Rally," according to the Stock Trader's Almanac. But this year, there are signs Santa Claus may disappoint.

Ed Cole, head of multi strategy, equities at Man Group talks inflation risks and the problem with investors all in on the U.S. market.