News

Fed’s Collins Says Rate Cuts Should Be Careful, Data-Based

(Bloomberg) -- Federal Reserve Bank of Boston President Susan Collins said policymakers should use a careful, data-dependent approach as they lower interest rates to help preserve the strength of the US economy. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShould

Crypto.com Files Suit Against SEC After Getting Wells Notice

(Bloomberg) -- Crypto.com filed a lawsuit against the US Securities and Exchange Commission after receiving a Wells Notice indicating the regulator’s intention to sue the digital-asset exchange for operating as an unregistered broker-dealer and securities clearing agency. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’

Fed's Bostic says labor market slowing but not slow, jobs gains 'robust'

Last week's jobs numbers confirm the U.S. labor market remains strong even though it may be slowing, with a 4.1% unemployment rate around what is considered full employment and employers adding jobs faster than what is needed to account for population growth, Atlanta Federal Reserve President Raphael Bostic said on Tuesday. The rise in the unemployment rate from last year's lows well below 4% "is actually a move to where most folks, before the pandemic, thought full employment was," Bostic said at a meeting with foreign consular officers based in Atlanta. "The labor market ... is certainly slowed down, but is not slow," he said, while monthly job creation "is pretty robust."