Federal Reserve's Bullard: Opposed Fed's recent rate cut, should wait for more inflation and employment data

2 hours ago

On December 12, Chicago Fed President Evans stated his opposition to the Federal Reserve’s recent 25-basis-point rate cut, arguing further cuts should await more data on inflation and the labor market—especially amid lingering price hike concerns among businesses and consumers. Evans was among the three officials who dissented in the Fed’s 9-3 vote this week, advocating for delaying rate cuts until early next year. “Inflation has stayed above the Fed’s 2% target for four and a half years, with recent progress toward the goal stalling,” he explained. “Nearly all businesses and consumers I’ve spoken with in my district in recent months cite prices as a top concern, so a more cautious approach—waiting for additional information—is prudent.” Evans added that if future data shows inflation returning to the 2% target, he still “optimistically believes” rates “can be significantly lowered” next year. (Source: FX678)

Add to Favorites Download image Share x Copy link

Relevant content

Binance Denies Korean Media Reports of Delayed Response to Upbit Hack

Binance has denied South Korean media reports claiming it responded slowly to the recent hack of major local exchange Upbit, a company spokesperson said Tuesday (Dec. 12). “Our security and investigation teams identified the incident immediately and took swift action to freeze relevant transfers, stopping further fund outflows,” the spokesperson stated. “Any claims we failed to act timely or effectively are baseless and inaccurate.” Earlier Tuesday, South Korean outlet KBS reported local police asked Binance to freeze stolen cryptocurrency linked to the Upbit hack—but the exchange only froze a portion of the requested amount. Upbit, South Korea’s largest crypto exchange, disclosed on Nov. 27 that it detected unusual withdrawals totaling roughly 54 billion won ($36 million) in Solana network-related assets, sent to unknown external wallets. On the day of the hack (Nov. 27), police confirmed some stolen funds flowed to Binance and requested the exchange freeze about 470 milli

15 minutes ago

Spot Silver Rises to $64.65 per Ounce, Hits New All-Time High

On December 12, spot silver climbed to $64.65 per ounce, notching another all-time high, according to market data.

15 minutes ago

Huaxia Fund Hong Kong Launches Asia's Largest Tokenized Money Market Fund on Solana

Katie He, Head of Product and Strategy at ChinaAMC Hong Kong (ChinaAMC HK), announced at the Solana Breakpoint Conference on December 12 that the firm will launch Asia’s first and largest tokenized currency market fund. Covering the Hong Kong Dollar (HKD), U.S. Dollar (USD), and Chinese Yuan (RMB), the fund will tokenize traditional currency market instruments to offer investors secure on-chain access to stable return opportunities—with full transparency and real-time settlement. Following months of collaboration with regulators and partners including OSL, this innovation will expand beyond Hong Kong to broader markets and is natively deployed on the Solana blockchain.

15 minutes ago

Curve DAO has approved increasing YieldBasis's crvUSD credit limit to $1 billion.

On December 12, Curve DAO announced it has approved raising YieldBasis’s crvUSD credit line from $300 million to $1 billion. While this is the maximum allowed credit line, it won’t be allocated immediately—usage will expand gradually as crvUSD liquidity increases. Curve set the overall limit, and YieldBasis needs its own governance vote to lift its individual market cap within that framework.

15 minutes ago

Interactive Brokers will allow funding your brokerage account with a stablecoin

On December 12, Bloomberg reported that Interactive Brokers will permit the use of stablecoins to fund brokerage accounts.

15 minutes ago

Zepz Launches SendWave Wallet, a Non-Custodial Wallet for Solana-based Stablecoin

On December 12, a senior executive from UK fintech Zepz announced at the Solana Breakpoint conference that the firm has launched the SendWave Wallet — a non-custodial wallet backed by Solana’s stablecoin infrastructure. Designed for cross-border remittances and financial services, the wallet currently serves 100 countries and regions, with collaboration support from partners Circle and Portal.

15 minutes ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!

2024.12.13 17:37:29

A smart #AI coin trader made $17.6M on $GOAT, $ai16z, $Fartcoin,$arc.

2025.01.05 16:05:18