State Wyoming Financial News

Philadelphia Federal Reserve President Patrick Harker on Thursday provided a strong endorsement to an interest rate cut on the way September.

QI Research CEO and chief strategist Danielle DiMartino Booth discusses how the Fed can get the U.S. economy back on track on 'The Big Money Show.'

benchmark interest rate at their next meeting in September as long as inflation continued to cool. The minutes of the Fed's July 30-31 meeting, released Wednesday, said the «vast majority» of policymakers «observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.»

Also read: Wall Street today: US stocks mixed, Fed minutes & Jackson Hole in focus While the sudden and large price dislocations were reversed, the unsettling episode felt like a warning of the inherent instability of the financial system. The insecurity was accentuated by what happened in the analyst community. Some well-known Wall Street analysts and observers of finance urged the Fed to immediately implement an emergency intra-meeting rate cut—a move that I argued was unnecessary and potentially harmful.

Federal Reserve officials have said they’re increasingly confident that they’ve nearly tamed inflation

Gold pared gains after hitting another record as traders look ahead to a speech by Federal Reserve Chair Jerome Powell later this week.

The Fed has so far remained resolute that future rate cut decisions will be data driven as it maintained its target range for the Fed funds rate at 5.25%-5.5% in late July (31) until it is confident that inflation has hit its 2% target on a sustained basis.  Held between 22-24 August in Jackson Hole, Wyoming, the 47th annual conference will focus on «Reassessing the Effectiveness and Transmission of Monetary Policy» and provide central bankers such as Jerome Powell, chair of the Fed, to «clearly state their views», said John Plassard, senior investment specialist at Mirabaud Group. Fo...

Federal Reserve officials have said they're increasingly confident that they've nearly tamed inflation. Now, it's the health of the job market that's starting to draw their concern. With inflation cooling toward its 2% target, the pace of hiring slowing and the unemployment rate edging up, the Fed is poised to cut its benchmark interest rate next month from its 23-year high. How fast it may cut rates after that, though, will be determined mainly by whether employers keep hiring. A lower Fed benchmark rate would eventually lead to lower rates for auto loans, mortgages and other forms of consumer borrowing. Chair Jerome Powell will likely provide some hints about how the Fed sees the economy and what its next steps may be in a high-profile speech Friday in Jackson Hole, Wyoming, at the Fed's annual conference of central bankers. It's a platform that Powell and his predecessors have often used to signal changes in their thinking or approach.

Mary Daly, president of the San Francisco Fed and voting member of the Bank's Open Market Committee, told the FT that the latest data provided her some reassurance that inflation was now under control. US inflation dips below 3% for the first time since 2021 US inflation fell below 3% for the first time since in three years last week (15 August). This was followed by better than expected results from July's US retail and food services sales. Daly spoke ahead of the Bank's annual gathering in Jackson Hole Wyoming this week, where leading members of the Fed and market participants...

US stock market indexes Nasdaq Composite, S&P 500, and Dow Jones are likely to trade higher on Monday as encouraging data eased recession worries following a brutal sell-off in Wall Street earlier in August. The S&P 500 has rebounded more than 6 per cent since August 5, when a steep drop pushed the benchmark the US index to its biggest three-day slide in over two years. A rapid return to calm was also evident in the Cboe Volatility Index, or Wall Street's «fear gauge,» which has retreated from last week’s four-year highs at a record pace, as per a Reuters report. Some of 2024's biggest winners have staged strong rebounds since August 5. Chipmaker Nvidia has bounced more than 20 per cent, while the Philadelphia SE Semiconductor index has gained more than 14 per cent. Small-cap shares, which had been strong performers in July, have also recovered from recent lows, with the Russell 2000 up nearly 5 per cent, Reuters reported.

The S&P 500 and the Nasdaq notched their seventh straight session of gains, as stocks recouped losses from a tailspin two weeks ago. The sell-off, sparked by weak economic data and heightened recession fears, confirmed the Nasdaq had entered correction territory.

U.S. stocks drifted higher as Wall Street coasted to the close of its best week since November

A rally that put stocks on track for their best week in 2024 lost steam on Friday, with traders assessing the latest economic data for clues on the outlook for Federal Reserve policy.

US stock market on Wednesday closed on green as key indices — S&P 500, Dow Jones Industrial Average, and Nasdaq — rose. The Dow Jones Industrial Average closed up 0.6 per cent at 40,008.39, while the broad-based S&P 500 rose 0.4 per cent to 5,455.21, and the Nasdaq increased by less than 0.1 per cent 17,192.60. Among individual stocks, the news of Snickers maker Mars's near-$36 billion acquisition of snacking giant Kellanova made waves on Wall Street, sending the share price of the former firm up by 4.5 per cent, and the latter by 7.8 per cent.

A reporter at a small Wyoming newspaper has resigned after a competitor discovered he was using artificial intelligence to write stories and fabricate quotes, including some by the governor

Which financial assets a central bank should buy and sell is hardly a novel question. Historically, the US Federal Reserve has focused on shorter-term Treasury securities, but quantitative easing had the Fed buying mortgage securities and quality commercial paper in vast quantities. Central banks often hold gold and foreign currencies.

America’s Bitcoin miner, CleanSpark, is expanding its operations greatly, breaking ground on a new facility in Cheyenne, Wyoming, which is expected to be operational by the end of the year.

Matt Hougan, the chief investment officer of Bitwise, has said the recent commitments made by US politicians have made him reconsider his perspective on Bitcoin’s potential.

United States Senator Cynthia Lummis (R-Wyoming) revealed a draft bill to CoinDesk on July 31, outlining a plan to establish a federal stockpile of 1 million Bitcoin—a plan substantially different from what her initial comments suggested.

US Senator Cynthia Lummis reiterated her proposal for a Bitcoin reserve to assist in reducing the US national debt. It came after the Treasury Department revealed Monday that the US gross national debt surpassed $35 trillion for the first time.

Bitcoin (BTC) briefly topped $71,000 early Monday, riding high on the optimism from the Bitcoin 2024 conference in Nashville over the weekend, before reversing course and falling 2% to around $67,000 as of 2 p.m. ET.