County St. Louis Financial News

Despite regulatory pressure and worsening macroeconomic conditions, Bitcoin (BTC) demonstrated bullishness holding near $28,000 for the past week. Furthermore, professional traders have maintained leveraged long positions on margin and in futures markets, indicating strength.

Retail egg prices retreated in February, according to federal data issued Tuesday, delivering relief to consumers who saw prices spike at the grocery store in recent months.

Bitcoin's (BTC) 16% price gain between Feb. 13 and Feb. 16 practically extinguished the bears' expectation for a monthly options expiry below $21,500. As a result of the abrupt rally, these bearish bets are unlikely to pay off, especially since the expiry occurs on Feb. 24. However, bulls were not counting on the strong price rejection at $25,200 on Feb. 21 and this reduces their odds of securing a $480 million profit in this month’s BTC options expiry.

WASHINGTON — Federal Reserve officials at their most recent meeting indicated that there are signs inflation is coming down, but not enough to counter the need for more interest rate increases, meeting minutes released Wednesday showed. While the Jan. 31-Feb. 1 meeting concluded with a smaller rate hike than most of those implemented since early 2022, officials stressed that their concern over inflation is high. Inflation «remained well above» the Fed's 2% target, the minutes stated. That came with labor markets that «remained very tight, contributing to continuing upward pressures on wages and prices.» Consequently, the Fed approved a 0.25 percentage point rate increase that was the smallest hike since the first of this tightening cycle in March 2022. The move brought the fed funds rate to a target range of 4.5%-4.75%.But the minutes said that the reduced pace came with a high level of concern that inflation was still a threat.

St. Louis Federal Reserve President James Bullard expressed confidence that the central bank can beat inflation and advocated Wednesday for stepping up the pace in the battle.

The Federal Reserve’s short-term benchmark rate isn’t yet at a level high enough to sufficiently slow the U.S. economy to combat high inflation, but it should get there this year, a central bank official said Thursday.

The Federal Reserve’s short-term benchmark rate isn’t yet at a level high enough to sufficiently slow the U.S. economy to combat high inflation, but it should get there this year, a central bank official said Thursday.

Wall Street is currently obsessed with guessing when the Federal Reserve will stop raising interest rates. Rather than waiting for this much-discussed “pivot” in the U.S., however, investors may be better served by scouting out emerging markets first, especially Latin America.

The Biden administration on Friday asked the Supreme Court to allow it to move forward with its mass student-debt forgiveness program, which had been put on hold in lower-court litigation.

Critics sometimes ask what practical good economic theory has done. The Nobel Prize in Economic Sciences awarded to Ben Bernanke on Monday along with Douglas Diamond of the University of Chicago and Philip Dybvig of Washington University in St. Louis provides a rejoinder. The laureates independently developed the theoretical foundations for why banks exist and why bank panics hurt. Mr. Bernanke put those theories into practice when the stakes could scarcely have been higher: as Federal Reserve chairman during the global financial crisis of 2007-09.

Check out the companies making headlines in midday trading.

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

The S&P 500 ended its four-week-long recovery last week after minutes from the Federal Reserve’s July meeting hinted that the central bank’s rate hikes will continue until inflation is under control. Members of the Fed said there was no evidence that inflation pressures appear be easing.

The crypto market registered a major slump on Friday, resulting in major cryptocurrencies losing key support and falling to new monthly lows after a prolonged bullish surge over the past month.

Federal Reserve Bank of St. Louis President James Bullard said Thursday he is considering support for another large rate rise at the central bank’s policy meeting next month and added he isn’t ready to say the economy has seen the worst of the inflation surge.

The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the U.S. could be easing, according to market strategists.

St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling.

St. Louis Federal Reserve President James Bullard said Tuesday that he still thinks the economy can avoid a recession, even though he expects the central bank will need to keep hiking rates to control inflation.

The number of Americans who want to work full-time but are forced to work part-time jobs declined in June to its lowest in more than 20 years, according to federal data issued Friday, underscoring the strength of the labor market and the bargaining power of workers.