Chair Jerome Powell said the US Federal Reserve (Fed) is still working toward ending its anti-inflation campaign of interest-rate increases as officials signalled borrowing costs would head higher than investors expect next year.
Quoteworthy: "You can commit fraud in shorts and T-shirts in the sun." — Damian Williams, US attorney for the Southern District of New York. Sam Bankman-Fried of defunct Bahama-based crypto exchange FTX has been charged with “one of the biggest financial frauds in American history”.
Fed still has ‘some ways to go’
