Slower rate hikes, holiday deals

WASHINGTON (AP) – Most Federal Reserve officials backed reducing the size of their interest rate hikes “soon” at their last meeting – before raising their benchmark rate by a substantial three-quarters of a point for the fourth straight time. done Central bank policymakers saw “few signs that inflationary pressures are easing.” Still, a “substantial majority” of officials felt that a lower rate hike “would likely be appropriate soon,” according to minutes of their Nov. 1-2 meeting. The Fed is widely expected to raise its key short-term rate, which affects many consumer and business loans, by half-a-point when it next meets in mid-December.

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$740M in crypto assets have been recovered so far in the FTX bankruptcy

NEW YORK (AP) — The company tasked with liquidating assets at failed cryptocurrency exchange FTX said it has so far managed to recover and secure $740 million in assets, a fraction of the billions that could potentially be lost. And bankruptcy is missing from the company’s coffers. . The numbers were revealed on Wednesday by cryptocurrency custodial company BitGo, which hired FTX in the hours after the company filed for bankruptcy on November 11.

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