White House National Economic Council Director Kevin Hassett said on Oct. 24 that inflation is moderating and pressure on the Federal Reserve has diminished, Jin10 reports. The remarks come as policymakers assess the current economic trajectory and monetary policy adjustments.

The White House said on Oct. 24 that inflation data may not be released in November, BlockBeats reports. The administration provided no details on the reason for the potential delay.

The U.S. Consumer Price Index rose 0.3% in September following a 0.4% gain in August, with the annual rate reaching 3.0% compared to 2.9% in August, the Department of Labor said Friday. Core CPI, excluding food and energy, increased 0.2% month-over-month (down from 0.3% in August) and 3.0% year-over-year, easing from 3.1% in the prior month. The report was released despite delayed economic data due to government shutdown to assist the Social Security Administration in calculating 2026 cost-of-living adjustments. Economists note that tariff impacts have been gradual as businesses absorb inventory and estimate consumers have borne approximately 20% of tariff costs, with hiring adjustments offsetting corporate tax burdens.

Market participants have increased positions betting on two additional Federal Reserve interest rate cuts before year-end, Jin10 reports. The U.S. Dollar Index fell over 30 points to 98.71 in a brief move. The U.S. Bureau of Labor Statistics confirmed that September CPI data collection occurred prior to the funding suspension.

U.S. President Donald Trump officially pardoned Binance founder Changpeng Zhao (CZ) on Oct. 24, Coindesk reported, triggering market speculation that former FTX founder Sam Bankman-Fried (SBF) may receive a pardon. Polymarket data show SBF's pardon probability jumped from 7% to 12% following the announcement. Bitcoin rose 2.7% to break above $110,700, while Ethereum hovered near $3,850, BiyaPay analysts said.

Senate Democrats initiated action on Oct. 24 to condemn President Trump's pardon of Binance founder Changpeng Zhao (CZ), Axios reports. The move marks a formal legislative response to the presidential clemency decision.

Gold attracted $50 billion in inflows over the past four months, surpassing the cumulative total of the previous 14 years, Bank of America data show. The week ending Wednesday saw $8.7 billion flow into gold, marking the largest single-week inflow on record, according to Jin10. Cryptocurrency posted outflows of $300 million, the first in 10 weeks, while U.S. equities drew $14.7 billion and bonds attracted $17.2 billion.

JPMorgan Chase and Bank of America strategists expect the Federal Reserve to end its balance sheet reduction program this month, concluding the liquidity withdrawal operation that began in June 2022, BlockBeats reports. Both banks advanced their forecasts due to recent increases in borrowing costs within dollar funding markets, having previously projected the runoff would cease in December or early next year. Mark Cabana and Katie Craig of Bank of America noted in their Thursday report that current elevated money market levels should signal to the Fed that reserves are no longer "ample," with elevated repo rates and funding pressures indicating the system is approaching reserve scarcity. At JPMorgan, strategists led by Teresa Ho stated this week's funding conditions prompted them to move up their timeline, as the market has been "operating with more friction" following depletion of the Fed's reverse repo facility.