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January 13th - According to a source familiar with the matter, global central bank officials are working to issue a statement in support of Fed Chairman Jerome Powell following the Trump administrations significant escalation of pressure on the Federal Reserve. The joint statement is expected to be released under the name of the Bank for International Settlements and is open for signature by all central banks. The source also indicated that due to time zone differences, central bank governors will need time to refine their wording, so the statement could be released as early as Tuesday.Frances November government budget was -€155.407 billion, compared to -€136.2 billion in the previous month.Central banks around the world are drafting a statement to express their support for Federal Reserve Chairman Jerome Powell. The joint statement is expected to be released under the name of the Bank for International Settlements (BIS).The onshore yuan closed at 6.9765 against the US dollar at 16:30 on January 13, down 23 points from the previous trading day.On January 13th, Matt Weller, Head of Market Research at Forex.com, stated that he expects both the overall and core CPI in the US to rise by 2.7% year-on-year in December. Overall, the process of inflation falling back towards the 2% target has stalled for over a year, with the overall CPI year-on-year increase consistently hovering between 2.3% and 3%, while the core CPI has also remained in the mid-to-high range of 2.5% to 2.9%. Despite inflation continuing to exceed the target level, the Federal Reserves concerns about the job market are still considered a more pressing issue, and the market expects the federal funds rate to be further lowered this year. However, the implied probability of the Fed cutting rates again at its March meeting is only about 25%, and the market is confident that the Fed will keep rates unchanged this month. The news that the US Department of Justice subpoenaed Powell this weekend adds additional risk to the Feds independence. While this is a low-probability event, it increases the likelihood of Trump replacing the Fed chairman earlier than planned. If this happens (although the probability remains low), regardless of current inflation data, we may see more aggressive rate cuts.

New FTX chief says bankrupt crypto exchange could restart

Skylar Shaw

Jan 20, 2023 11:43

According to Chief Executive Officer John Ray, the bankrupt cryptocurrency exchange FTX is considering ways to resurrect its operations. He made the announcement to the Wall Street Journal on Thursday.


According to Ray, who took over the company's leadership in November, a task group has been established to look at reviving FTX.com, the organization's primary international exchange.


The CEO also said in an interview with the Journal that he would research if resurrecting FTX's international exchange would generate more value for the company's clients than his team could get by simply selling the platform or liquidating its assets.


Following the news, FTT, the native token of FTX, increased by around 30%.


I'm relieved Mr. Ray is now only pledging to restart the exchange after months of blocking such attempts! Sam Bankman-Fried, the founder and former CEO of FTX, said in a tweet.


Bankman-Fried said, "I'm still waiting for him to eventually acknowledge FTX US is solvent and return clients' money.


An inquiry for comment from Reuters was not immediately answered by an attorney representing FTX.


Bankman-Fried is accused of robbing the exchange's users of billions of dollars to settle debts accrued by his cryptocurrency-focused hedge fund, Alameda Research. He's denied the allegations of fraud.


Customer money' future, however, is still unknown. In a note to creditors earlier this week, FTX said that since declaring bankruptcy in November, hackers had stolen nearly $415 million in cryptocurrency from its worldwide and American exchanges.


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