News

Jinse Finance reported that, according to a U.S. government official, Rick Rieder, a senior executive at BlackRock, has been steadily rising in the list of candidates for the next Federal Reserve Chair. The official, who requested anonymity to discuss private meetings, stated that U.S. Treasury Secretary Bessent held a wide-ranging two-hour interview with Rieder in New York last Friday, during which they discussed topics such as monetary policy, the Federal Reserve's organizational structure, and regulatory policies. The official emphasized that the selection process is still ongoing; so far, Bessent has interviewed 4 out of the 11 publicly known candidates and is expected to add 1 or 2 new candidates to the consideration list. Sources familiar with the Treasury Secretary's thinking revealed that Bessent was impressed by Rieder's extensive experience managing large teams in financial markets and his deep understanding of both micro and macroeconomics. The source stated that if Rieder were to lead the Federal Reserve, he would bring a steady approach and in-depth knowledge of non-bank financial institutions. Earlier last week, Rieder said in a CNBC interview that, based on his interpretation of economic indicators, he believes the Federal Reserve should cut interest rates by 50 basis points—twice the amount widely expected to be announced at this week's FOMC meeting. (Golden Ten Data)

ChainCatcher news, Messari's corporate research manager posted on X, stating that although bitcoin prices have repeatedly reached new highs this year, its network activity has plummeted. Currently, bitcoin's average daily transaction fee income is less than $500,000 (annualized $179 millions), the lowest level since the emergence of Ordinals and Runes.