Crypto News Regulators 

Belgian Regulator Blacklists Another 9 Crypto Websites Suspected of Fraud

“Belgian investors reportedly lost about $2.5 million in crypto scams in 2017, which accounts for only 4% of overall crypto fraud cases, with the total losses estimated at $152 million” writes Joeri Cant for cointelegraph.com. Belgium’s Financial Services and Markets Authority (FSMA) has made an additional update to its blacklist of cryptocurrency-related websites associated with fraud.In June 2018, the Belgian financial authority FPS Economy (FPS) launched a website to raise awareness of the risks associated with cryptocurrency investments.Although the FSMA cannot charge the suspected websites of fraud, an alert could…

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Markets News Regulators 

Surprise gain in October jobs reinforces Fed’s plan to pause its rate cuts

“The labor market is still cooking,” said Ward McCarthy, chief financial economist at Jefferies” writes Patti Domm for cnbc.com. “To the extent the market had been starting to get on another rate cut in December, it’s not going to happen.”. At the time, Fed Chairman Jerome Powell said the Fed anticipates a moderately growing economy and a solid labor market. Source: cnbc.com

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News Regulators 

Judges nixes suit against Port Authority by former No. 2 cop

“The Port Authority denied that allegation and other claims in the lawsuit” writes The Associated Press for nj.com. A federal judge in New Jersey tossed a whistleblower suit Thursday that accused the Port Authority of New York and New Jersey of retaliating against a former high-ranking police official.Under its charter dating back nearly 100 years, the Port Authority isn’t liable under a law of one state unless both states have enacted laws that are substantially similar.On Thursday, U.S. District Judge Madeline Cox Arleo wrote that as a bistate organization, the…

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Markets News Regulators 

Powell aces tricky Fed transition to ending interest rate cuts, doing ‘100% the right things’

“The Fed cut its fed funds target rate Wednesday to 1.50% to 1.75% in its third quarter point rate cut in so many meetings” writes Patti Domm for cnbc.com. They’re not going to raise rates for a long time, which is what I think is the right call,” Rieder said.Drew Matus, chief market strategist at MetLife Investment Management, said Powell got the market reaction he was looking for. Source: cnbc.com

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News Regulators 

Fed cuts rates for a 3rd time but signals it will now pause

“Powell has pointed to similar rate cuts in 1995 and 1998 as precedents; in both those cases, the Fed cut rates three times” reports thebusinessjournal.com. The housing market has also improved, after slumping in 2018, thanks in part to the Fed’s rate cuts.He and most other Fed officials credit their rate cuts with lowering mortgage rates, boosting home sales and generally keeping the economy on track.Some international tensions have eased since the Fed previously met in mid-September, which might suggest to some that further rate cuts are less necessary.Both have…

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News Regulators 

Federal Reserve cuts interest rate for 3rd time this year

“The Federal Reserve has cut its benchmark interest rate for the third time this year to try to sustain the economic expansion in the face of global threats” writes Tricia Despres – for suntimes.com. The Fed’s move reduces the short-term rate it controls — which influences many consumer and business loan rates — to a range between 1.5% and 1.75%. But by cutting rates the Fed is trying to counter uncertainties heightened by President Donald Trump’s trade conflicts, a weaker global economy and a decline in U.S. manufacturing.The economy is…

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News Regulators 

fed cuts rates

“Some international tensions have eased since the Fed previously met in mid-September, which might suggest to some that further rate cuts are less necessary” reports nydailynews.com. The U.S. and China reached a temporary trade truce earlier this month and are working on a preliminary agreement that could be signed soon by Trump and President Xi Jinping. It’s not clear, though, how meaningful such an agreement might be, and Trump hasn’t dropped his threat to impose new tariffs on Chinese goods on Dec. 15. Source: nydailynews.com

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News Regulators 

Fed cuts interest rate again, indicates further reduction unlikely

“Some international tensions have eased since the Fed previously met in mid-September, which might suggest to some that further rate cuts are less necessary” reports nydailynews.com. The U.S. and China reached a temporary trade truce earlier this month and are working on a preliminary agreement that could be signed soon by Trump and President Xi Jinping. It’s not clear, though, how meaningful such an agreement might be, and Trump hasn’t dropped his threat to impose new tariffs on Chinese goods on Dec. 15. Source: nydailynews.com

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News Regulators 

Federal Reserve board votes to cut interest rates

“The Federal Reserve cut rates by a quarter point Wednesday in a widely expected move aimed at staving off a slowing economy and fears of a recession” reports washingtonexaminer.com. In September, the Fed lowered its interest rate target by a quarter percentage point, which followed a rate cut in July.It was the third rate cut in a row for the monetary policy committee, bringing the target range for short-term interest rates to 1.5% to 1.75%.The central bank, he said, is not currently thinking about raising rates, though he acknowledged there…

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Markets News Regulators Stocks 

Stocks trade mixed after Fed cuts interest rates by a quarter point

“Also read: Can the stock market march higher without the promise of more Fed cuts?” writes Andrea Riquier for marketwatch.com. Don’t miss: Here’s how the stock market tends to perform after the Fed cuts rates 3 times in a row Meanwhile U.S. third quarter corporate earnings reports are also preoccupying investors.Gold for December delivery GCZ19, +0.15%   on Comex rose $5.90, or 0.4%, to trade at $1,496.50 an ounce, ahead of the Fed decision. Source: marketwatch.com

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