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Ed Hyman of Evercore ISI, one of Wall Street's most closely watched and respected economists, expects the Fed to cut interest rates by 50 basis points on Wednesday and eventually achieve a soft landing. "I would be shocked if they don't cut rates by 50 basis points tomorrow," Hyman, founder and chairperson of Evercore ISI, said in an interview. Hyman's turnaround comes at a critical time for the U.S. economy and financial marekt. The Fed is widely expected to open...
According to Bloomberg, one of the most closely watched legal cases in the cryptocurrency space made important progress last week when a federal judge ordered Ripple Labs Inc. to pay a $125 million civil penalty for selling its XRP tokens to institutional investors without registering with the Securities Exchange Commission (SEC). The fine is a fraction of the $2 billion sought by the agency, which could be good news for other crypto firms battling the SEC.
