Slower rate hikes, holiday deals

WASHINGTON (AP) – Most Federal Reserve officials at their most recent meeting pledged to reduce the scope of their rate hikes “soon” — just ahead of raising its benchmark rate by a sizeable three-quarters point for a fourth straight month. Central bank policymakers saw “very little sign of inflationary pressures easing”. Still, a “substantial majority” of officials believed that smaller rate hikes “would probably soon be appropriate,” according to minutes of their Nov. 1-2 meeting. The Fed is widely expected to raise its short-term interest rate, which affects much consumer and corporate credit, by half a point at its next meeting in mid-December.

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$740M in Crypto Assets Recovered So Far in FTX Bankruptcy

NEW YORK (AP) — The company hired to freeze assets on failed cryptocurrency exchange FTX said it has so far managed to recover and secure $740 million in assets, a fraction of the potential Billions likely missing from the bankrupt company’s coffers. The figures were released Wednesday by cryptocurrency custodian firm BitGo, which shut down FTX in the hours after the company filed for bankruptcy on Nov. 11.

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