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On August 6th, Federal Reserve Governor Tim Cook reiterated her stance: she is prepared to raise interest rates if inflation does not slow, and warned that policymakers may not have room to wait for inflation to return to the 2% target. While Cook supported the Feds decision to keep interest rates unchanged at the July policy meeting, she cautioned that the longer inflation remains above the Feds target, the more difficult it will be to curb it. Speaking at an event in Alaska, Cook said, "If I dont see signs of a sustained decline in inflation anytime soon, Im prepared to act. With inflation above target for five consecutive years, the risk of inflation becoming entrenched in price and wage-setting behavior is rising, which will lead to more persistent inflation that we will find harder to manage." However, Cook indicated that the waning impact of tariffs, the potential for lower oil prices, and easing pressures related to the AI boom might provide a buffer for inflation, thus necessitating policy tightening. She stated that her primary task remains getting inflation back to the Feds target level.SanDisk (SNDK.O) shares fell more than 3% in after-hours trading in the U.S.SanDisk (SNDK.O) reported revenue of $8.96 billion for Q4 of fiscal year 2026, exceeding market expectations of $8.394 billion and compared to $1.901 billion in the same period last year.SanDisk (SNDK.O) expects revenue of $10.3 billion to $10.8 billion for the first quarter of fiscal year 2027, compared with market expectations of $10.8 billion.Federal Reserve Governor Cook: Weak consumer confidence is related to a number of factors, including high inflation.

U.S. SEC Chair Says Much to be Done to Protect Crypto Investors

Jimmy Khan

May 17, 2022 09:34

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Cryptocurrency assets are extremely speculative, and investors need greater safeguards or risk losing faith in the markets, according to Gary Gensler, head of the US Securities and Exchange Commission.


Individuals who acquire cryptocurrencies don't often receive the same disclosures that people who buy traditional assets get, such as whether the trading platform they're using is trading against them or if they genuinely control the assets they keep in digital wallets, according to Gensler.


"We have this fundamental bargain: you, the investing public, may choose the risk you want to take, but there has to be full and fair information, and individuals aren't meant to lie to you," he said at the Financial Industry Regulatory Authority's annual conference in Washington.


His remarks follow the dramatic fall of TerraUSD, a so-called stablecoin that lost its dollar peg last week.


The fall of the token sent cryptocurrencies sliding, with bitcoin erasing the gains it had made over the weekend to trade around $30,000, considerably below its November 10 high of $69,000.


While crypto markets are considered to be decentralized, most activity takes place on a few trading platforms, which, together with token issuers, must engage with the SEC to tighten industry regulations and disclosures, according to Gensler.


"Anti-fraud, anti-manipulation, ensuring sure there's no front-running, making sure an order book is truly true and not made up," he said of core market principles.


According to Gensler, the SEC would remain "a policeman on the beat" while working with the Commodity Futures Trading Commission to ensure that all cryptocurrencies are protected.


"There's a lot to be done here, and the investing public isn't effectively protected in the meanwhile," he added.

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