News

The balance of commercial paper outstanding by foreign financial institutions in the U.S. without seasonal adjustment increased by $1 billion. The seasonally adjusted balance of U.S. commercial paper outstanding increased by $1.07 billion.

Researchers at the Boston Fed stated in a report released on Thursday that an oil price shock similar to the current one triggered by the Iran war would push the U.S. Personal Consumption Expenditures Price Index up by 1.5 percentage points in the following year, whereas in the 1970s it would have raised the index by 2.2 percentage points. The researchers noted that, in the face of a similar shock, employment growth in the 1970s would decline by 1.8 percentage points, but this effect “has largely disappeared in recent years.” Egon Zakrajšek, chief economist at the Boston Fed and one of the report’s authors, believes that this means “monetary policy should pay more attention to the inflation effects associated with oil shocks, rather than employment effects.”

MarketVectorTM Digital Asset 100 Mid-Cap Index fell 4.82%, reported at 2785.49 points, traded most of the time below 2800 points, and at 19:15 (UTC+8) hit the daily low at 2668.01 points. MarketVector Digital Asset 100 Index dropped 3.92%, reported at 12738.82 points, at 10:01 (UTC+8) dropped to 12377.01 points. Currently, Solana is down 3.94%, Dogecoin down 3.25%, XRP down 3.23%. Bitcoin fell 3.17%, now reported at $63,493.07, spending most of the time in a declining trend and showing an overall W-shaped movement, hitting a daily low at $61,321.90 at 10:04 (UTC+8); Ethereum fell 2.35%, now reported at $1,769.96.