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Share link:In this post: Analysts warn Trump’s potential removal of Fed Chair Jerome Powell could raise U.S. borrowing costs by nearly $60 billion a year due to spiking Treasury yields. Investors may demand higher interest rates if they believe the Fed is losing independence, threatening its ability to control inflation and sparking wider market volatility. Higher yields could make U.S. debt unsustainable, weaken the dollar, and push mortgage rates above 7%, worsening an already sluggish housing market.
Share link:In this post: Nvidia plans to restart H20 chip exports to China but needs U.S. license approvals. CEO Jensen Huang sold $50 million worth of Nvidia shares this week under a pre-arranged plan. China signaled that U.S. export approvals for the H20 chip may move forward.
Numerai, a pioneering decentralized hedge fund leveraging crowdsourced machine learning, has declared plans to buy back $1 million worth of its native token Numeraire (NMR) from the open market.
- 21:18$177 Million Liquidated Across the Market in the Past Hour, Mostly Long PositionsAccording to Jinse Finance, data shows that in the past hour, total liquidations across the network reached $177 million, with long positions accounting for $170 million and short positions for $7.4314 million.
- 20:52Fed’s Logan: Periodic Assessments Provide the Fed with a Systematic Approach to Understanding the SituationAccording to a report by Jinse Finance, Federal Reserve official Logan stated that periodic assessments provide the Fed with a systematic approach to understanding the situation; further discussion should continue to determine whether communicating the federal funds rate target in a range format remains the optimal choice.
- 20:27US CFTC Acting Chair May Join MoonPay After Official Chair ConfirmationAccording to a report by Jinse Finance, crypto journalist Eleanor Terrett wrote that "there are rumors that after a permanent chair is confirmed, CFTC Acting Chair Caroline D. Pham will join the cryptocurrency payment platform MoonPay. MoonPay declined to comment on this. A spokesperson for the CFTC did not deny the rumor, telling me: 'As she stated in May, Acting Chair Pham will return to the private sector once a new chair is confirmed. In the meantime, she remains committed to faithfully carrying out the President’s agenda and delivering on his promise to achieve victories in the crypto space.'"