Itau Unibanco, a Brazilian bank with assets of $200 billion, now recommends a 3% allocation of Bitcoin. （Bitcoin Archive）

[Powell: AI is a 'partial reason' for worsening U.S. unemployment rate] Federal Reserve Chairman Powell stated at a press conference that AI is a 'partial reason' for the worsening unemployment rate, which is also one of the contexts behind the Fed's second interest rate cut within two months. Powell added that AI is not currently the main reason, but the current AI wave may have a worse impact on the workforce than the technological revolutions of the past 200 years. Powell believes the era of generative AI may differ from the past, and if that is indeed the case, the Federal Reserve does not have sufficient tools to address the related societal and labor market impacts.

[BofA Strategists: U.S. Money Market Rates May Not Normalize Until December 2026] Bank of America strategists Mark Cabana and Katie Craig pointed out that due to the size of reserves the Federal Reserve needs to replenish exceeding the current bond purchase plans set by the Fed, money market rates may not return to more normalized levels until December 2026.

Cryptocurrency exchange Coinbase plans to launch its own prediction market, which is currently experiencing a surge in popularity and scrutiny. （Decrypt）

[San Francisco Fed President: Supports Rate Cuts, Overly Tight Policy May Harm American Families] San Francisco Fed President Mary Daly stated that the Federal Reserve's decision to cut rates this week was not an easy one, but Mary Daly ultimately supported the move. Mary Daly pointed out that real wage growth stems from long-term stable economic expansion, and the current expansion is still in its early stages. The Federal Reserve must bring inflation down to the 2% target while protecting the labor market, as overly tight policy could harm American families.