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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.

Peirce of the US Securities and Exchange Commission Sees Movement on Stableco in Laws

Cory Russell

May 13, 2022 10:33

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The collapse of the stablecoin TerraUSD and a destabilizing drop in Tether, the world's biggest stablecoin by market size, have given cryptocurrency markets an overall worth of almost $1 trillion this week.


Stablecoins are digital currencies that are linked to conventional assets such as the dollar.


During an online panel discussion organized by the London-based Official Monetary and Financial Institutions Forum policy think tank, SEC Commissioner Hester Peirce remarked, "One area we could see some movement is around stablecoins."


"That's an area that has certainly gained a lot of attention this week," Peirce continued, highlighting the possibility for stablecoins to be used in future marketplace constructions.


She went on to say that the SEC's wide regulatory jurisdiction allows it to catch digital currencies and the technological platforms on which they are exchanged.


The instability in crypto markets, US Treasury Secretary Janet Yellen told a Senate banking subcommittee this week, demonstrated the need for a "appropriate" regulatory structure.


In March, President Joe Biden signed an executive order mandating the government to evaluate the risks and advantages of developing a central bank digital currency, as well as other cryptocurrency problems.


Gary Gensler, the chairman of the Securities and Exchange Commission, has stated that the agency should address stablecoin risks because asset-linked cryptocurrencies raise concerns about financial stability and monetary policy because they have features that are similar to and potentially compete with bank deposits and money market funds.


He also said that there are concerns about their potential for illegal usage.


Peirce, the SEC's lone Republican commissioner, said on Thursday that possible regulation should allow for a "trial-and-error" regulatory framework, adding that "some people have indicated it should be at the SEC; others want it to be the banking regulators."


There are many possible approaches to addressing stablecoins.


We also need to provide space for failure when it comes to experimenting."

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