Federal Reserve Vice Chair: Current Monetary Policy "Well Positioned," Economic Growth of 2.2% Expected This Year
**Feb 7: Fed Vice Chair Jefferson Says Current Monetary Policy "Well Positioned" for Future Developments**
- Job market softening amid weakening demand, immigration challenges
- December PCE Price Index seen rising 2.9% year-over-year
- Labor market may be in equilibrium (muted hiring, firing activity)
- U.S. economy forecast to grow 2.2% this year
Source: FX168
### Notes on American English adaptation:
1. **Conciseness**: Used short, punchy phrases (common in U.S. financial alerts) instead of run-on sentences.
2. **Terminology**: Swapped "waning demand" → "weakening demand" (more colloquial in U.S. finance) and "year-on-year" → "year-over-year" (standard YoY shorthand in American media).
3. **Flow**: Grouped key data points into scannable bullet points (typical of U.S. news briefs).
4. **Clarity**: Replaced "address future eventualities" → "handle future developments" (more natural in casual financial discourse) and "low hiring and firing environment" → "muted hiri
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Trump Releases Racist Ad Against Obama, White House Says Staffer Mistakenly Shared It, Now Deleted
February 7th —
Former President Donald Trump shared a video on Truth Social yesterday promoting election fraud conspiracy theories. The clip concluded with an image of a monkey insulting the Obamas, sparking strong bipartisan condemnation. Republican Sen. Tim Scott, for example, labeled it "the most racist behavior from the White House."
In response, White House officials said the post was a staff error and has since been deleted.
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ENS Ceases L2Namechain Development, v2 Will Deploy Directly on Ethereum Mainnet
**February 7**
Official sources confirm ENSv2 will deploy directly to the Ethereum mainnet, halting development of its proprietary Layer 2 network Namechain.
The decision stems from Ethereum L1 scaling outpacing expectations: ENS registration gas costs have dropped 99% in the past year, with average fees falling below $0.05 after the 2025 Fusaka upgrade (which raised the gas limit to 60 million).
nick.eth noted that while Namechain development is paused, ENSv2’s roadmap remains unchanged. Users will still access features like one-click registration, cross-chain stablecoin payments, and a redesigned registration form.
The ENS team argues staying on L1 eliminates extra trust assumptions tied to Layer 2 networks and leverages Ethereum’s robust infrastructure security.
Currently, the new ENS App and ENS Explorer are in public alpha testing.
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US Media: OpenAI in Talks with Abu Dhabi Firm to Build Custom ChatGPT for UAE
On February 7, American financial outlet Semafor reported that OpenAI is partnering with Abu Dhabi-based firm G42 to develop a customized ChatGPT for the United Arab Emirates (UAE)—one tailored to the region’s local language, political perspectives, and speech restrictions.
The tool is being built specifically for the UAE government, per OpenAI employees. Once launched, it will rank among the first localized iterations of a mainstream chatbot, signaling U.S. tech companies may need to roll out region-specific technical solutions as they expand AI globally.
Specific details are still under discussion, but the final product is expected to be a fine-tuned ChatGPT that fluently communicates in local Arabic and may include content restrictions. Sources involved in the project note the UAE wants the chatbot to align with the monarchy’s political stance.
(Jinse)
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Long-Term HODL Address Dips and Acquires Ethereum, with Both Addresses Accumulating Nearly 12,000 ETH in About 6 Hours
Long-dormant Ethereum wallets are waking up to buy the dip, per LookOnChain monitoring on February 7th.
- Wallet 0x55C1 (dormant for 2 years) withdrew 10,000 ETH from Binance 6 hours ago, worth $19.24 million.
- Wallet 0x1342 (dormant for 1 year) withdrew 1,892 ETH from Binance 30 minutes ago, worth $3.75 million.
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