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Federal Reserve news and analysis from LC Insight: 8 stories, newest first.
Bitcoin fell below $70,000 for the first time since August. Ether dropped under $2,000
Bitcoin fell to $67,922 and ether to $1,905 overnight, the lowest since mid-August, and the crypto market lost 6.8% of its value in a day. Rate fears and fund outflows built up all week.
Fed's Waller set a 0.3% test for a half-point hike. October's core CPI hit it
Fed Governor Christopher Waller said a 25 basis point hike in December could hurt the Fed's credibility if core inflation stayed near 0.3%. Hours later, October's core reading came in at 0.3%.
GENIUS Act explained: what the US stablecoin law requires and who enforces it
The GENIUS Act is the US federal law for payment stablecoins. It requires full reserves, quick redemption and no interest for simply holding a token, and it takes effect on January 18, 2027, under the OCC's final rule.
US growth hits 3.4%, PCE inflation hits 3.6%: why neither helps crypto
At 8:30 a.m. ET on October 29, the government said the US economy grew at a 3.4% annual rate in the third quarter and the Fed's preferred inflation gauge rose 3.6% in a year. For crypto traders hoping for cheaper money, both numbers point the wrong way.
Two Fed officials voted for a hike and lost 10 to 2. Is December next?
The Fed held rates at 3.75% to 4% on October 28, but Lisa Cook and Beth Hammack wanted a quarter-point rise. With September inflation at 3.7%, the December meeting is now the one to watch.
Most Fed officials saw another hike by year-end. Bitcoin ETFs lost $485 million that day
The minutes of the September Fed meeting, released on October 7, showed officials worried that five years of high inflation could stick. Spot bitcoin ETFs had their worst session of the week the same day.
The Fed hiked for the first time since 2023. Why did bitcoin barely flinch at $76,000?
A unanimous quarter-point hike on September 16 took the US policy rate to 3.75% to 4%, and 16 of 18 officials penciled in more. Bitcoin closed the day at $76,147, up about 1% in two days.
Inflation stuck at 3.4% in August. Bitcoin jumped 2.8% in two hours, then faded
Gasoline drove US prices up in August while core inflation cooled on the year. Bitcoin hit about $79,160 within two hours of the September 11 report and ether gained almost 7%, but both gave most of it back later in the day.