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On February 7th, Federal Reserve Vice Chairman Thomas Jefferson stated that the central banks current interest rate stance is "perfectly suited" to a robust economic situation, indicating that he is in no hurry to resume the rate cuts that the Fed paused in January. Jefferson noted that although inflation has consistently exceeded the Feds 2% target, he expects the downward trend in inflation to resume later this year. He also estimates the overall economic condition to be good, with economic growth projected to reach approximately 2.2% by 2026. He stated, "I see some signs that the labor market is stabilizing, inflation is poised to return to our 2% target, and sustainable economic growth will continue." Jefferson noted that the three rate cuts implemented by the Fed between September and December of last year adjusted interest rates to a range of 3.5% to 3.75%—close to market expectations of a "neutral level," a level that neither stimulates nor inhibits the economy. He pointed out that this stance strikes a reasonable balance between the two major risks facing the central bank.February 7th - On the evening of February 6th local time, following the conclusion of the US-Iran nuclear negotiations, Iranian Foreign Minister Araqchi left Muscat, the capital of Oman. Reportedly, in an interview after the negotiations, Araqchi stated that the Iranian delegation must return to Tehran to consult on "key issues" and prepare for future negotiations.Federal Reserve Vice Chairman Jefferson: Tariffs are a key driver of inflation in 2025, and price pressures should ease in 2026.Federal Reserve Vice Chairman Jefferson: Although upside risks remain, I expect inflationary pressures to ease.Federal Reserve Vice Chairman Jefferson: Tariffs are likely just a one-off change in price levels.

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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