Federal Reserve's Daly: Policymakers Need to Stay Open to Further Rate Cuts

On November 10th, on-chain data analyst Yu Jin posted on social media and stated that Bitmine purchased 110,000 ETH last week, which is approximately $385 million. As a result, its total ETH holdings reached 3.505 million ETH, approximately $12.42 billion. However, the overall cost for ETH is as high as $4,020. Currently, it is suffering a significant unrealized loss of $1.66 billion. This additional purchase is regarded as a move to lower the average acquisition price.

On November 10th, the Speaker of the U.S. House of Representatives, Johnson, stated that he is of the belief that there are an adequate number of votes to pass the stopgap funding bill. (Golden Ten)

On November 10th, U.S. House Speaker Johnson informed reporters that the "nightmare" is finally coming to an end. Since the Senate vote on Sunday has opened the door to the reopening of the government, he hopes that the House can promptly vote on a government reopening bill. (Xinhua Finance)

On November 10th, according to the monitoring of whale-alert, Circle minted 100 million USDC on the Ethereum network at 22:58 (Beijing time).

On November 10th, Mester of the Federal Reserve stated that he anticipates a robust rebound in the U.S. economy in the early part of next year, highlighting the officials' necessity to be cautious regarding further rate cuts. He referred to factors such as fiscal support, the impacts of previous rate cuts, and regulatory easing. Mester reaffirmed his perspective that the current Fed policy is approaching a point where it is no longer exerting downward pressure on inflation. We must proceed with caution, and this is extremely significant because I believe there is limited space for further rate cuts; otherwise, monetary policy will become overly accommodative. After two rate cuts this year, Fed officials hold different views on how much further cuts are required. Fed Chair Powell stated last month that a December rate cut is not a certainty. Several officials who have spoken since the central bank's October meeting have also advocated for a pause in rate cuts in December, emphasizing th

On November 10th, Moustapha Salame of the Fed stated that currently stock prices and housing prices are at elevated levels. (Golden Ten)