Category: Trucking News

Fed’s Bostic Says He Opposed Rate Cut to Preserve Policy Space

(Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.Federal Reserve Bank of Atlanta President Raphael Bostic said he opposed last week’s interest rate cut because two earlier reductions had provided insurance against global risks and the central bank needed to preserve its ammunition.“We had already done a fair amount of accommodation -- we had moved twice already -- and it was my view we should just let that go and wait and see how it plays out,” Bostic said Friday in a Bloomberg Television interview.Fed officials last week cut interest rates by a quarter-percentage point for a third time this year, to 1.5%-1.75%, the first reductions since the financial crisis. They cited the combination of trade-policy uncertainty, slowing global growth and below-target inflation as rationales for the cuts, which partially unwound more than 2 percentage points of increases...

Soaring value: Private jet firm plans to sell charters with Ethereum

A company called Jet Token hopes to raise $10m for an Ethereum-powered private jet leasing marketplace. Flyers will be able to pay for charters using ERC-20 tokens. The company claims it will be able to reduce costs and implement simpler booking, as well as slash the amount of time planes are sitting idle. A statement said: “We believe the tokenisation of flight hours and (as we mature) fractional membership programmes offers the possibility of reduced transaction costs and, through the evolution of a marketplace, higher industry fleet utilisation. “Our purposeful enhancement of price discovery and reduced entry price have the potential to produce fairer and more inclusive results for aircraft owners and travellers alike.” The statement says Jet Token hasThe post Soaring value: Private jet firm plans to sell charters with Ethereum appeared first on Coin Rivet....