On November 20th, according to sources cited by Fox Business, the Department of Government Efficiency (DOGE) led by Musk may develop a mobile application for filing taxes, to make it easier for taxpayers to submit tax returns for free. Currently, the plan is in its preliminary stages. DOGE is considering how to make it easier for Americans to pay taxes each year, as part of wider measures expected to be taken to thoroughly examine federal plans to save costs and improve efficiency by streamlining plans and eliminating redundancies.
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Sources: DOGE, the government efficiency department, may develop a mobile app for tax filing
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BTC breaks $90,000
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The US spot Bitcoin ETF saw a net inflow of $54.8 million yesterday.
according to data monitored by Farside Investors, the US spot Bitcoin ETF had a net inflow of 54.8 million USD yesterday. -
The US spot Ethereum ETF saw a net outflow of $75.2 million yesterday.
according to data monitored by Farside Investors, the US spot Ethereum ETF had a net outflow of 75.2 million USD yesterday. -
Economists expect the Federal Reserve to cut interest rates in December, with two more cuts possible in 2026.
according to economists surveyed, Federal Reserve officials are expected to vote next week to cut interest rates again to guard against the rising risk of a sharp deterioration in the labor market. The median of respondents shows that the Fed is expected to implement two more 25 basis point rate cuts within the year starting from March 2026. Next week's rate cut will continue the momentum of rate cuts from the policy meetings in September and October. A considerable majority also expect Fed officials to once again reiterate the statement that "the downside risks to employment have increased in recent months," as they did in October. The Federal Reserve will announce its decision at 2 PM Washington time on December 10, followed by a press conference held by Chairman Jerome Powell. -
Bank of America: Markets will soon digest expectations of a Fed rate cut in January.
Bank of America stated the market may soon price in the Federal Reserve's rate cut expectation in January. (Jin10) -
He Lifeng held a video call with U.S. Treasury Secretary Bessant and Trade Representative Greer.
He Lifeng, China's lead for China-US economic and trade relations and Vice Premier of the State Council, held a video call with the US leads, Treasury Secretary Janet Yellen and Trade Representative Katherine Tai. The two sides had in-depth and constructive exchanges on implementing the important consensus reached by the Chinese and US heads of state at the Busan meeting and the November 24 call, focusing on carrying out pragmatic cooperation and properly addressing mutual concerns in the economic and trade field. Both sides positively evaluated the implementation of the outcomes of the China-US economic and trade consultations in Kuala Lumpur, stating that under the strategic guidance of the two heads of state, they will continue to make good use of the China-US economic and trade consultation mechanism, continuously extend the cooperation list, reduce the list of issues, and promote the sustained, stable, and positive development of China-US economic and trade relations. -
Hassett: No discussion with US President Trump regarding the Federal Reserve Chair (selection)
Director of the White House National Economic Council, Hassett, stated: He has not discussed the Federal Reserve Chair (candidate) issue with U.S. President Trump and supports Bassett's views on the Federal Reserve Chair. -
White House National Economic Council Director Hassett: It's Time for the Fed to Cautiously Cut Interest Rates
White House National Economic Council Director Hassett stated: It is time for the Federal Reserve to cautiously cut interest rates. -
The yield on the 10-year U.S. Treasury note rose 2 basis points to 4.12%, a new high since November 2020.
yield on the US 10-year Treasury rose 2 basis points to 4.12%, reaching a new high since November 2020. -
Social media platform "X" has been fined €120 million by the European Union for violating content regulations.
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