City Atlanta Financial News

Federal Reserve Bank of Atlanta President Raphael Bostic said Monday that he was still on board with a gradual start to rate rises in March, while reserving the option for something more aggressive if inflation doesn’t ebb.

Federal Reserve Bank of Atlanta President Raphael Bostic said Tuesday that the Ukraine crisis is adding risk to the economic outlook, but he also said he is still on board with the central bank’s looming campaign of monetary policy normalization.

Consumer prices rose faster last year in large U.S. metropolitan areas seeing an influx of new residents than in the nation overall, while inflation was milder in large coastal cities with less population growth.

Several Federal Reserve officials, both privately and publicly, are pushing back against calls by St. Louis Fed President Jim Bullard Thursday for super-sized rate hikes, and instead suggesting the central bank is likely to embark initially on a more measured path.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

Rap superstar Ye, who changed his legal name from Kanye West last October, is not planning to roll out a non-fungible token (NFT) -- at least not for now. However, he could change his mind later, according to the artist’s recent Instagram post.

ATLANTA—Trucks are taking over American roads, fueled by a rise in pandemic online shopping and disruptions to global supply chains.

Bitcoin for purchases, according to BitPay Inc., one of the biggest crypto payments processors in the world. Last year, Bitcoin’s use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020, the company told Bloomberg. Ether purchases accounted for 15% of the total, stablecoins were 13% and new coins added to BitPay in 2021 — Dogecoin, Shiba Inu and Litecoin — accounted for 3%. The alternative coins’ use surged partly as more businesses have begun using stablecoins for cross-border payments. Consumers also tend to move to stablecoins — whose value is supposed to stay steady — when crypto prices drop, and they’ve been falling since early November. Coins like Doge also made a splash last year, thanks to fans like Tesla Inc. Chief Executive Elon Musk, who on Friday said the token can be used to buy the company’s merchandise.

BitPay was founded in 2011, when few companies accepted digital coins.

Alternative sports organization Fan Controlled Football (FCF) has raised $40 million in Series A funding from crypto and blockchain gaming firms to support the league’s expansion plans, including four new teams and an NFT project.

Federal Reserve Bank of Atlanta President Raphael Bostic said Monday he is open to the U.S. central bank raising its now near zero short-term rate target as soon as its March policy meeting, adding he expects the Fed will likely raise its interest rate target three times over the course of the year.

Federal Reserve regional bank presidents who gain votes in the new year on the central bank’s interest-rate-setting committee are likely to strongly support raising borrowing costs to try to combat high inflation.

Federal Reserve Bank of Atlanta President Raphael Bostic said Thursday he would like to get the Federal Reserve in position to raise its short-term interest rate target next year if inflation pressures don’t retreat from currently high levels.

The White House has reportedly begun interviews for possible candidates to fill the empty seats on the Board of Governors of the Federal Reserve System in 2022.