JH Kim

Jerome Powell, the Chair of the Federal Reserve, stated at a press conference following the FOMC on the 18th (local time) that "the medium to long-term interest rate direction is proceeding in the direction the Federal Reserve desires," and that "today's policy stance of the Federal Reserve is much less restrictive than before." He continued, "Inflation is close to the target of 2%, and consumer spending remains resilient," adding that "economic activity is expanding at a solid pace." Furthermore, he noted, "The U.S. economy is generally showing positive performance," and "Federal Reserve members predict that the U.S. GDP growth rate will be around the mid-2% range over the next few years."

According to the December dot plot (interest rate projection indicator) of the Federal Open Market Committee (FOMC) on the 18th (local time), an additional 0.5% cut in the benchmark interest rate is expected next year. Meanwhile, the Fed announced a 0.25%p cut in the benchmark interest rate today. This marks the third consecutive cut following the 0.5% 'big cut' last September. As a result, the US benchmark interest rate has fallen to 4.25%~4.50%.

The Federal Reserve (Fed) Federal Open Market Committee (FOMC) announced in a statement on the 18th (local time) that "inflation is close to the committee's target of 2%, but still somewhat high," and "recent indicators show that economic activity is expanding at a solid pace, and since the beginning of this year, the labor market has generally eased, and the unemployment rate has risen but remains low." It continued, "The committee's goal is to achieve an inflation rate of 2% while maintaining maximum employment in the long term," and "we see the risks to achieving employment and inflation goals as relatively balanced." Furthermore, it added, "The economic outlook is uncertain, and the committee is prepared for various risks." Meanwhile, the Fed announced a 0.25%p cut in the benchmark interest rate today. This marks the third consecutive cut following the 0.5%p 'big cut' in September. As a result, the U.S. benchmark interest rate has fallen to 4.25%~4.50%.

The U.S. Federal Reserve (Fed) Federal Open Market Committee (FOMC) announced in an official statement on the 18th (local time) that it would cut the benchmark interest rate by 0.25%p. This marks the third consecutive cut following the 'big cut' of 0.5%p in September. As a result, the U.S. benchmark interest rate has fallen to 4.25%~4.50%.

Cryptocurrency analyst and trader Ali Martinez stated on the 18th (local time) on X (formerly Twitter) that "after the last three Federal Open Market Committee (FOMC) meetings, there has been a phenomenon where all altcoins have rebounded."

On the 18th (local time), according to cryptocurrency specialist media CoinDesk, JP Morgan assessed in a report that a new era for cryptocurrency in the United States has opened with Donald Trump's victory in the November election. The report stated, "After Trump's election victory, the total market capitalization of the cryptocurrency market increased by approximately 65%," and "The Trump administration in its second term not only showed a favorable perception of cryptocurrency but also demonstrated enthusiasm to promote it." It continued, "They showed a willingness to discuss cryptocurrency market regulation and ways to maintain future development in the United States," and "Trump has already appointed numerous officials to participate in the formulation and execution of cryptocurrency policies." Additionally, "The past regulatory environment for cryptocurrency was the worst. Now, the industry can develop more safely, transparently, and productively from a regulatory perspective," and "As the regulatory environment improves, exchanges and brokers will list more tokens, and product innovation will be stimulated." Finally, "However, it may take some time for these effects to fully manifest," adding, "During Trump's term, it may take at least 9 to 12 months to see the policy impact."

According to Bloomberg on the 18th (local time), global asset management firm BlackRock has made its first purchase of municipal bonds issued on blockchain through its exchange-traded fund (ETF). Previously, these bonds were issued in April by Quincy, Massachusetts, using JPMorgan's platform.

According to the Chicago Mercantile Exchange (CME) FedWatch on the 18th (local time), traders predict a 98.8% probability that the United States Federal Reserve (Fed) will cut the benchmark interest rate by 25 basis points at the FOMC meeting. Meanwhile, this year's final FOMC meeting is scheduled for December 19th at 4 AM (Korean time).

The three major indices of the United States stock market are showing mixed trends. The Nasdaq Composite is trading at 20,107.71 points, down 0.01% from the previous day as of 00:01 on the 19th. The Dow Jones is up 0.30% at 43,578.23 points, and the S&P 500 is up 0.05% at 6,053.50 points.

The three major indices of the United States stock market closed lower. The Nasdaq Composite index recorded a 0.33% decrease from the previous day, closing at 20,108.30 points. The Dow Jones index fell by 0.62% to 43,448.03 points, and the S&P 500 index ended trading with a 0.39% decrease at 6,050.30 points.

On the 17th (local time), according to the cryptocurrency-focused media outlet CoinDesk, U.S. Senate Banking Committee member Tim Scott and the upcoming U.S. House Financial Services Committee Chair French Hill are aiming to pass the 21st Century Financial Innovation and Technology Act (FIT21) and the Stablecoin bill under the second Trump administration. French Hill stated, "There is a possibility that the cryptocurrency bill could pass this year, but it requires more than 60 votes in the Senate," adding that "bipartisan agreement is ultimately key."

On the 17th (local time), according to cryptocurrency specialist media CoinDesk, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that it has shut down a North Korean money laundering network that laundered millions of dollars. OFAC stated, "North Korea is a leader in global cryptocurrency crime," and explained, "The network was used for North Korea's cryptocurrency and cash exchanges. We collaborated with the United Arab Emirates (UAE) to shut down the network." Additionally, it was identified that a UAE-based shell company (Green Alpine Trading, LLC) supported North Korea's cryptocurrency and cash exchanges. Along with this, two Chinese individuals who have been involved in the network since 2022 were added to the blacklist.

Eleanor Terrett, a Fox Business reporter, reported on the 17th (local time) via X (formerly Twitter) that "Donald Trump, the President-elect of the United States, has nominated David O. Sacks as the Crypto Czar (chief of virtual assets), and he is scheduled to visit the US Capitol this week to hold meetings with members of Congress."

The three major indices of the U.S. stock market are showing a downward trend. The Nasdaq Composite Index is trading at 20,070.02 points, down 0.51% from the previous day as of 00:01 on the 18th. The Dow Jones Index is down 0.49% at 43,502.88 points, and the S&P 500 Index is recording a 0.43% decline at 6,047.80 points.

The three major indices of the United States stock market closed mixed. The Nasdaq Composite Index rose by 1.24% compared to the previous session on the 17th, recording 20,173.74 points. The Dow Jones Index fell by 0.22% to 40,729.53 points, while the S&P500 Index ended trading up 0.37% at 6,073.60 points.