City Kansas City Financial News

18.02 / 08:59

business regulation SEC Staking Custodia Bank CEO slams Washington’s ‘misguided crackdown’ on crypto

The CEO of Custodia Bank Caitlin Long has slammed regulators and lawmakers in Washington D.C. for their “misguided crackdown” on the crypto sector, and also for ignoring her warnings of major “fraud” allegedly conducted by now-bankrupted entities.

07.02 / 01:11

business Sport FTX ad Crypto ad deals for Super Bowl LVII fell apart after FTX collapse: Report

Fans watching the Kansas City Chiefs face off against the Philadelphia Eagles in Super Bowl LVII on Feb. 12 will reportedly not see a plethora of ad spots for cryptocurrency companies as they did in 2022.

08.01 / 18:11

Citi Fighting Fed’s Barkin and George Say Inflation Fight Isn’t Over Despite Promising Signs

Inflation readings have been encouraging recently, but the Fed’s fight against rising prices isn’t over, the leaders of the Richmond and Kansas City Federal Reserve banks said Friday.

01.01 / 16:17

Citi Retiring Fed President Challenged the Consensus Inside Central Bank

The Federal Reserve is set to lose one of its more diligent skeptics when Esther George, president of the Federal Reserve Bank of Kansas City, retires next month.

30.12 / 15:13

Citi Retiring Fed President Challenged the Consensus Inside Central Bank

The Federal Reserve is set to lose one of its more diligent skeptics when Esther George, president of the Federal Reserve Bank of Kansas City, retires next month.

23.09 / 13:23

Citi Provident Digital Williams This Crypto-Friendly Bank is Suing the Fed and Why a Win Would Be Hugely Price-Positive for Digital Assets

U.S. digital asset-focused bank Custodia has filed a lawsuit against the Federal Reserve (FED) Board of Governors and the Federal Reserve Bank of Kansas City over “unlawfully” delaying its application for a master account with the FED. The bank received major backing earlier this week after seven U.S. Congressmen submitted a friend of the court brief. The lawmakers urged a Wyoming court to dismiss the FED’s motion to dismiss the lawsuit.

28.08 / 16:03

Citi Lowe's Parke At Jackson Hole, World’s Central Bankers Gauge Economic Risks in Covid’s Wake

JACKSON HOLE, Wyo.—The world’s central bankers returned to Grand Teton National Park after a three-year, pandemic-induced hiatus with angst over inflation that has been at the highest levels since the Federal Reserve Bank of Kansas City began hosting its annual summer symposium there in 1982.

26.08 / 13:35

Citi Lowe's Fed’s Jerome Powell Set to Speak on Economic Outlook at Jackson Hole

Federal Reserve Chairman Jerome Powell is set to speak on the outlook for the U.S. economy, inflation and interest-rate policy at the Kansas City Fed’s symposium in Jackson Hole, Wyo., on Friday at 10 a.m. ET.

25.08 / 12:39

Citi Lowe's Parke Fed Watchers Scrutinize Jackson Hole for Hints on Interest-Rate Outlook

Federal Reserve officials returning to Grand Teton National Park for the Kansas City Fed’s annual economic symposium on Thursday face one of the most challenging economic backdrops since officials began hosting the event in Jackson Hole, Wyo., in 1982.

22.08 / 13:09

Ethereum Citi CEO Bitcoin Bitcoin Price on Verge of $20,000 amid Fed’s Interest Rates Announcement

Bitcoin and other major cryptocurrencies plunged back last week on Friday, wiping almost $200 billion from the combined market after a serious collapse warning.

16.08 / 00:43

regulation Banks Federal Reserve guidelines Fed to issue long-awaited guidelines for granting master accounts to crypto banks

The United States Federal Reserve Board announced Monday that it had finalized its guidelines for the factors reserve banks are to consider when reviewing requests for Federal Reserve accounts and payment services. The guidelines create a three-tiered review framework with the level of due diligence to be provided, depending on the applicant’s risk level.

27.07 / 21:25

UPS Fighting Time Fed hikes interest rates by 0.75 percentage point for second consecutive time to fight inflation

The Federal Reserve on Wednesday enacted its second consecutive 0.75 percentage point interest rate increase as it seeks to tamp down runaway inflation without creating a recession. In taking the benchmark overnight borrowing rate up to a range of 2.25%-2.5%, the moves in June and July represent the most stringent consecutive moves since the Fed began using the overnight funds rate as the principal tool of monetary policy in the early 1990s.

11.07 / 19:49

Citi Fed’s George Concerned About Effect of Aggressive Rate Rises on Economy

The Federal Reserve official who cast the sole vote opposing the central bank’s supersize rate rise last month is still worried monetary policy tightening may be happening more quickly than the economy and financial sector can absorb.

09.06 / 14:45

Citi Kansas City Fed Rescinds Master Account for Payments Firm, GOP Senator Says

WASHINGTON—The Federal Reserve Bank of Kansas City revoked the so-called master account of a payments firm that came to prominence earlier this year when Republican senators raised questions over how that account had been granted, according to a letter sent by Sen. Pat Toomey (R., Pa.).

08.06 / 12:57

Legal Federal Reserve banking US Crypto Bank Custodia Sues the Fed Over Delayed Master Account Application Processing

US digital asset-focused bank Custodia has filed a lawsuit against the Federal Reserve (Fed) Board of Governors and the Federal Reserve Bank of Kansas City, accusing the two institutions of“unlawfully” delaying its application for a master account with the Fed for 19 months.

08.06 / 05:07

business Banks Court Crypto bank Custodia sues the Fed over 19 month delay on account approval

Wyoming based digital asset bank Custodia is suing the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City, claiming an “unlawful delay” in processing an application for its master account.

25.05 / 21:27

Citi Kansas City Fed Leader Esther George to Retire in January

The Federal Reserve Bank of Kansas City said Wednesday that its leader, Esther George, will retire in January due to age limits.

19.05 / 16:49

Citi Target CME Inflation-fighting Fed isn't focused on impact of rates on stocks, Esther George Says

Kansas City Federal Reserve President Esther George said Thursday that higher interest rates are needed now to bring down inflation and policymakers are not focused on the impact that is having on the stock market.

15.02 / 21:31

Government Congress Concerns over Fed nominee may stop Senate from confirming Biden's picks: report

Members of the U.S. Senate Banking Committee have reportedly divided along party lines regarding President Joe Biden’s pick of Sarah Bloom Raskin as vice chair for supervision for the Board of Governors at the Federal Reserve.

14.02 / 13:35

Citi Central Bank Should Weigh Asset Sales to Curb Inflation, Says Fed Official

A top Federal Reserve official said the central bank should consider selling bonds from its $9 trillion asset portfolio to address high inflation and guard against harmful effects that can result from raising short-term rates above long-term rates.

01.02 / 14:05

Citi Fed’s George: Current Fed Stance ‘Out Of Sync’ With Economic Outlook

Federal Reserve Bank of Kansas City President Esther George warned Monday that monetary policy is on the wrong setting to deal with a rapidly growing economy, and said the process of getting it to a better place could create turbulence.

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