Today on The Open Bell:
Binance froze $6.3 billion worth of customer funds overnight after what looks like the largest crypto theft in history, and the company's reassurance that everyone will be made whole is doing a lot of heavy lifting right now.
The US economy grew at 3.4% last quarter, which is genuinely strong, but inflation is still running hot enough that the Federal Reserve's likely response is to raise borrowing costs again before Christmas, so Americans get to pay for their own good news.
Japan's central bank held rates steady today after finally hitting its 2% inflation target for the first time in thirteen years, and if that sounds like a triumph, ask a Japanese household how it feels to have prices rising faster than at any point since before most millennials had a job.
If this helped you make sense of a genuinely strange week, a five-star rating takes ten seconds and helps the next listener find the show.
New episodes every weekday morning at theopenbell.co
Not investment advice. For informational purposes only.
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Chapters:
00:00 Introduction
00:11 Binance halts all trading after $6.3bn breach — crypto's big
03:16 US Q3 GDP surges to 3.4%, but core PCE stalls at 3.1% — Dec
05:58 Bank of Japan holds at 1.25% as inflation finally aligns wit
08:13 Closing thoughts
