• Tech stocks pare deep losses but still decline as Fed's Powell eases concerns over runaway inflation

    5 days ago - By Business Insider

    Traders work, as a screen shows Federal Reserve Chairman Jerome Powell's news conference after the U.S. Federal Reserve interest rates announcement, on the floor of the New York Stock Exchange in New York, U.S., October 30, 2019.
    Brendan McDermid/Reuters
    US stocks pared losses but closed lower on Tuesday after Fed chair Jerome Powell staved off fears of rampant inflation. Stimulus and reopening could lift price growth, but the effect will likely be small and temporary, Powell said. Bitcoin tanked below $49,000 after trading as high as $55,053.91 Monday afternoon as investors snapped up...
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  • The Fed is looking carefully at issuing a digital dollar, Chairman Jerome Powell tells Congress

    5 days ago - By Business Insider

    Sarah Silbiger/Getty Images
    Federal Reserve Chairman Jerome Powell told Congress on Tuesday that it is looking carefully at issuing a digital US dollar. Powell called the potential digital dollar a "high priority" project, according to the testimony. The potential issuance of a digital dollar would come amid a surge in cryptocurrencies like bitcoin, which briefly surpassed $1 trillion in market value last week. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Federal Reserve Chairman Jerome Powell told Congress on Tuesday that the Fed is "looking carefully" at...
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