U.S. Fed Chair Jerome Powell’s remarks on Wednesday signaled a likely slowing down in interest rate hikes as soon as the central bank’s mid-December meeting, causing mixed results in equity markets. The S&P 500 index and Dow Jones Industrial Average closed down 0.09% and 0.56%, respectively, while the Nasdaq Composite was up 0.13%. Nicholas Colas, co-founder of the market analysis firm DataTrek Research, wrote in a note that as much as Powell is “trying to contain investors’ animal spirits by talking about persistently high interest rates, markets are rejecting that message.” Colas added, “Instead, [markets] are looking through his rhetoric and think they see the inflection point for monetary policy.”
Klarna Partners With Coinbase to Integrate USDC Stablecoin Funding
Digital funds supplier Klarna expands monetary technique by partnering with Coinbase to make the most of USDC stablecoins for institutional...
