Bitcoin is now worth more than silver and Saudi Arabia’s oil company—and is closing in on Google
The original cryptocurrency broke $100,000 for the first time on Wednesday.
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Fed's Bowman, worried by inflation, calls for caution on rate cuts
Federal Reserve Governor Michelle Bowman said on Friday that inflation risks to the economy remain real and labor market data hard to interpret, and that augurs caution with further decisions on central bank rate cuts. “I continue to see greater risks to the price stability side of our mandate, especially when the labor market continues to be near full employment,” Bowman said at an appearance before the Missouri Bankers Association Executive Management Conference. Bowman, whose comments centered mainly on banking issues, spoke after the releases of data detailing the performance of the job market during November.
Bowman Says Fed Should Proceed ‘Cautiously’ With Rate Cuts
(Bloomberg) -- Federal Reserve Governor Michelle Bowman reiterated that she prefers to lower interest rates cautiously, emphasizing underlying inflation remains “uncomfortably” above the central bank’s 2% goal. Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitAs Wars Rage, Cities Face a Dark New Era of Urban DestructionBowman said upside risks to price growth remain “prominent.” She noted prog
US Consumer Sentiment Rises Along With Inflation Expectations
(Bloomberg) -- US consumer sentiment rose to the highest since April, while year-ahead inflation expectations picked up to a five-month high as Democrats saw a greater risk of price pressures from anticipated tariffs.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitAs Wars Rage, Cities Face a Dark New Era of Urban DestructionThe preliminary December sentiment index climbed to 74 from 71.8, acc
Chevron Slows Permian Growth in Hurdle to Trump Oil Plan
(Bloomberg) -- Chevron Corp. plans to slow production growth in the biggest US oil field next year in the most definitive sign yet that President-elect Donald Trump faces an uphill battle to ramp up American energy output.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitAs Wars Rage, Cities Face a Dark New Era of Urban DestructionChevron will reduce capital expenditures in the Permian Basin to
US Hiring Rebounds, But Rising Unemployment Keeps Fed Cut Alive
(Bloomberg) -- US hiring picked up in November and the unemployment rate increased, pointing to a moderating labor market rather than one that’s significantly deteriorating.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitAs Wars Rage, Cities Face a Dark New Era of Urban DestructionNonfarm payrolls rose 227,000 last month following an upwardly revised 36,000 gain in October — a month constrain
Gold Steady After US Jobs Data Reaffirms Fed Rate Cut Bets
(Bloomberg) -- Gold held steady after a key US jobs report reaffirmed expectations that the Federal Reserve will cut interest rates this month.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitAs Wars Rage, Cities Face a Dark New Era of Urban DestructionNonfarm payrolls increased 227,000 last month following an upwardly revised 36,000 gain in October, according to Bureau of Labor Statistics fig