Bitcoin Churns Near $90,000 After Largest Drop Since US Election
The competition for the position of Treasury Secretary in the usa is intense, with Bessent reportedly in conversation with Musk.
According to insiders, after billionaire Musk endorsed Howard Lutnick as the best candidate for Secretary of the Treasury, Scott Bessent, founder of Key Square Group LP, had a conversation with Musk. Bessent is the US Treasury Secretary candidate that President-elect Trump is considering. These two top advisors are openly competing for this cabinet position responsible for overseeing the $28 trillion US Treasury market and economic sanctions. Musk, who is already a close advisor and key supporter of Trump, posted on social media platform X on Saturday
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Overseas headline: Federal Reserve Chairman said not in a hurry to cut interest rates, traders lower expectations for Fed rate cuts in December, US Federal Trade Commission plans to investigate Microsoft's cloud business.
Global financial media headlines that have been collectively focused on last night and this morning mainly include: US Federal Reserve Chairman Powell: Strong Economic Performance, No Urgency to Cut Interest Rates. Federal Reserve Chairman Jerome Powell stated that the recent performance of the US economy has been "quite good," providing the central bank with space to cautiously cut interest rates. Powell delivered a written speech in Dallas on Thursday, stating, "The economy has not shown any signals that require an urgent reduction in interest rates, and the better economic conditions enable us to act cautiously when making decisions." The Federal Reserve started cutting interest rates in September, and last week lowered the policy rate by another 25 basis points. They have indicated that as long as inflation continues to slow, they are willing to take further measures.
Block Options Spot-On: On November 14th, 103.53K Contracts Were Traded, With 827.52K Open Interest
Trump said there is no place for Damon in his new administration.
The President-elect of the usa, Donald Trump, has ruled out recruiting JPMorgan's CEO, Jamie Dimon, to join his administration in his second term. "I have great respect for Jamie Dimon from JPMorgan, but he will not be invited to be part of the Trump government. I appreciate Jamie's outstanding contributions to our country!" Trump posted on his social media platform, Truth Social, on Thursday. Trump had mentioned in June in an interview that he would consider having Dimon as his Treasury Secretary. However, Trump later denied this statement. "He is someone I would consider, of course," Trump said during the interview.
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