“With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information,” said Federal Reserve Bank of New York President John Williams on Tuesday afternoon.
His base case, he said, would be for just one more rate hike this year.
Williams’ remarks are landing on short-term rate markets, sending the two-year Treasury yield down to 4.88% from as high as 4.96% earlier on Tuesday. October rate hike odds have dipped to just 51% from 70% one day ago.
Bitcoin and stocks aren’t really reacting, both continuing with modest losses for the day.
Artificial Intelligence giant OpenAI is looking to raise $30 billion or more in a new funding round valuing the company at roughly $1.4 trillion, according to Bloomberg.
The move comes as the company appears to have delayed any public offering until 2027.
The funding talks are in an early stage, and the details could change, the story continued.
Prediction markets firm Kalshi is in advanced talks to raise roughly $1 billion at a valuation of about $40 billion, according to Reuters.
Among new investors are Tiger Global Management and Dragoneer Investment Group. Existing investor Sequoia Capital is in talks to be the lead investor.
This new funding comes after May’s round, which valued the company at $22 billion.
The U.S. is offering up to 40 million barrels of oil for purchase from its Strategic Petroleum Reserve.
This comes one day after the government reported SPR stocks had fallen to 283.8 million barrels, the lowest level since October 1982.
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