The integration allows BOB, a "hybrid L2," to use Bitcoin as its anchor chain where transactions with assets from other chains can be irreversibly recorded.
US rate futures price in Fed on hold in January, less than two cuts in 2025
NEW YORK (Reuters) -Futures on the federal funds rate, which measure the cost of unsecured overnight loans between banks, priced in on Wednesday that the Federal Reserve will hold the overnight benchmark rate steady in January, after it lowered rates by 25 basis points at the end of its two-day meeting. Rate futures also factored in about 33 bps in cuts in 2025, down from 49 bps immediately after the Fed statement, LSEG calculations showed. The Fed on Wednesday also released new estimates on rate forecasts, also known as the "dot plot", which called for two quarter-point rate cuts next year.
Fed cuts rates 25 bp, scales back 2025 easing projections
The reduction by the central bank's Federal Open Market Committee in the benchmark policy rate to the 4.25%-4.50% range was opposed by Cleveland Fed President Beth Hammack, who preferred to leave the policy rate unchanged. U.S. central bankers now project they will make just two quarter-percentage-point rate reductions by the end of 2025. Fed Chair Jerome Powell said at a press conference after the release of the FOMC statement that it's too soon to say what President-elect Donald Trump's proposed economic policies will do to the economy or how that might bear on Fed policies.
Fed cuts rates by quarter point, scales back cuts for 2025
The Federal Reserve reduced interest rates by a quarter percentage point Wednesday and scaled back the number of cuts it expects to make next year.
Gold Falls to One-Month Low After Fed Signals Less Easing
(Bloomberg) -- Gold fell to the lowest price in a month after the Federal Reserve reduced interest rates and forecast less monetary easing for 2025.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousUS policymakers lowered their benchmark interest rate for a third consecutive time on Wednesday, but reined in the number of cuts they expect in 2025, signaling greater caution over how quickly they can continue reducing borrowing costs.New quarterly forecasts show
Fed's Powell not ready to say what Trump policies will do to economy
Federal Reserve Chairman Jerome Powell said Wednesday it's too soon to say what President-elect Donald Trump's proposed economic policies will do to the economy and how that might bear on the central bank's policy choices. "We need to take our time, not rush” and see what the new president delivers, Powell said, amid economists' expectations that tariffs and deportations favored by Trump are likely to push inflation higher.
Harvard Students Propose Bitcoin-Backed Stablecoin Using Elastos Technology
The BeL2 protocol sets itself apart from other Bitcoin Layer 2 solutions like the Lightning Network or Stacks.