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Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, expressed confidence today in the central bank’s ability to reach its inflation targets amid ongoing economic uncertainty.

The Fed has maintained a 2% annual inflation target since formally adopting it in 2012, using interest rate adjustments and other monetary policy tools to guide economic stability without causing excessive market volatility.

U.S. inflation has been declining from post-pandemic peaks but continues to exceed the 2% benchmark in several key measures. Recent data indicate a cooling labor market that could influence future Federal Open Market Committee rate decisions.

Kashkari has historically advocated for higher interest rates to combat rising prices, particularly during periods of economic uncertainty in the early 2020s when inflation surged above target levels.

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Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, expressed uncertainty today about how many additional rate cuts would be needed to reach a neutral policy stance.

Kashkari and other Fed officials now estimate the neutral rate could be around 3.1%, higher than pre-pandemic levels of 2-3%. The elevated estimate suggests fewer cuts might be necessary to reach the theoretical rate where monetary policy neither stimulates nor restrains economic growth.

The uncertainty about the neutral rate echoes debates from the 2010s when rates were held low for extended periods to aid recovery, contrasting with the Fed’s aggressive cuts to near-zero during the COVID-19 era in 2020.

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Tesla Inc. shares declined today, ending a seven-session winning streak for the electric vehicle maker.

The stock had been on its longest consecutive run of gains in recent months, buoyed by investor optimism around new developments including CEO Elon Musk’s compensation proposals and energy storage product launches.

Tesla’s stock has faced significant headwinds in 2025, declining approximately 41% year-to-date as of April amid reduced vehicle deliveries and intensifying competition in the electric vehicle market.

The company’s automotive revenue dropped 16% year-over-year in Q2 2025, reflecting broader industry trends as global EV sales growth has decelerated.

Tesla has been pivoting toward robotics and energy solutions as traditional vehicle sales face pressure, with the energy storage division showing particular promise for future growth initiatives.

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Trust Wallet’s TWT, the governance and utility token of the Trust Wallet ecosystem, climbed over 40% after Binance co-founder Changpeng “CZ” Zhao spoke about its evolution and growing use cases.

“TWT token started as an experiment. The FDV got too high quickly. They burned 99% of the supply, but didn’t have too many use cases for it. Now that’s expanding,” CZ wrote on X on Friday.

TWT rose from around $0.89 to over $1.2 minutes after CZ’s statement. The token briefly hit $1.3 on Binance.

CoinGecko data shows the token now trades above $1.1, down over 50% from its $2.7 all-time high established in late 2022.

Trust Wallet is implementing a new strategy to enhance utility and user engagement for Trust Wallet Token (TWT), according to a tokenomics litepaper released on Thursday. The team aims to enhance TWT’s utility and user engagement with its new roadmap.

The platform, which supports more than 100 blockchains, plans to implement tiered loyalty rewards, improved service features, and community incentives to boost TWT’s role within its ecosystem.

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XRPR, the ticker symbol for the REX-Osprey XRP ETF, recorded $37.7 million in trading volume today on its debut. The U.S.-listed fund provides spot exposure to XRP.

The debut volume surpassed $IVES for the biggest day-one volume of any 2025 launch, while the REX-Osprey Doge ETF, which debuted alongside the XRP fund, recorded $17 million in trading volume, placing it in the top five of 710 launches this year, according to a post by Eric Balchunas on X.

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The Royal Government of Bhutan transferred $107 million worth of Bitcoin to new wallets today.

The move represents one of the latest crypto asset transactions by the Himalayan nation, which has been actively involved in Bitcoin operations. The transfer was tracked through blockchain records showing the movement of the digital assets to a different wallet address.

Bhutan has emerged as one of the few countries to directly engage in Bitcoin mining and holdings, utilizing its abundant hydroelectric power resources for cryptocurrency operations.

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REX-Osprey, a partnership between REX Shares and Osprey Funds, today launched the first U.S.-listed spot ETFs providing direct exposure to XRP and Dogecoin.

The new exchange-traded funds allow investors to gain exposure to XRP, a digital cryptocurrency created by Ripple Labs for fast international transfers, and DOGE, a meme-inspired digital asset, without directly owning the underlying cryptocurrencies.

The ETFs were filed under the Investment Company Act of 1940, a regulatory framework that has allowed issuers to bypass some traditional SEC approval delays for alternative crypto assets.

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