BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

On November 25th, Federal Reserve Governor Milan said that the economy requires a significant interest rate cut. He anticipates that the employment data will persuade other Federal Reserve members to reduce interest rates. Monetary policy is having a negative impact on the economy. It is challenging to quantify the influence of artificial intelligence on the economy. The Federal Reserve should promptly lower interest rates to a neutral level. (IG)

November 25th: The price of spot gold continues to ascend. It is currently trading at $4141 per ounce and has wiped out all the losses that occurred after the previous news about the progress in Russia-Ukraine talks. Previously, US officials stated that the Ukrainian delegation had reached an agreement with the US on the terms of a possible peace deal, which led to the weakening of gold.

On November 25th, in the U.S., Retail Sales Month-on-Month in September was 0.2%. The expected value was 0.4%, and the previous value was 0.6%.

November 25th: U.S. Treasury Secretary Yellen declared that the "abundant reserve regime" of the Federal Reserve might be eroding slightly. It is necessary to simplify measures as the Fed has an excessive number of tools. There is concern about the rising cost of living, but the Fed's policy needs to focus on the future. It is time for the Fed to step back. Fed officials seem to be inclined to cut interest rates.

On November 25th: Federal Reserve Governor Milan expressed that he anticipates that the employment data will be able to persuade others at the Fed to back rate cuts. This indicates that the increase in the unemployment rate is attributed to monetary policy being overly tight. He does not think there is a problem with inflation; although he is concerned about the rising cost of living. He emphasized that the Fed's policy needs to focus on the future. He also holds the view that the Fed should soon reach the neutral interest rate. However, some analysts pointed out that since Milan was appointed with Trump's (rate-cutting) intentions in mind, his continuous calls for significant rate cuts are not unexpected. The market naturally disregarded his comments, so his remarks have had little practical impact. (FXStreet)

On November 25th, US Treasury Secretary Yellen declared that concerning the selection of the new Federal Reserve Chair, the second round of final interviews will be conducted today, and currently, there are five prominent candidates. President Trump is likely to make the announcement of the new Federal Reserve Chair prior to Christmas (December 25th). (Xinhua News)