Fed's Harker: Needs to shift to restrictive monetary policy to curb inflation

According to the official page of Bybit WSOT 2026, the individual competition has officially launched, running until 18:00 Beijing Time on December 2. Participants can compete for a total prize pool of up to 2,000,000 USDT based on their trading profit and loss performance. Per the competition rules, the platform categorizes participants into three asset tiers based on their UTA balance: Lightweight, Middleweight, and Heavyweight. The top 400 participants in total profit and loss within each tier, who meet the corresponding trading volume requirements, are eligible to split the respective prize pool. Specifically, the Lightweight tier requires a balance of 100 USDT to 2,000 USDT, Middleweight ranges from 2,000 USDT to 10,000 USDT, and Heavyweight is 10,000 USDT and above. The leaderboard ranks participants by total profit and loss, calculated as: Ending Balance ? Opening Balance ? Deposits + Withdrawals. After the official competition starts, registered UTA accounts must maintain a balance of at least 100 USDT to qualify for leaderboard ranking.

According to market sources, a US lawmaker has issued a second request to Jensen Huang, asking him to brief Congress.

Beating AI Insight News Brief: OpenAI has launched ChatGPT Wallet, enabling its "dots" AI agents to shop on users’ behalf with their authorization. The feature is initially available to ChatGPT Pro subscribers aged 18 and above in the U.S. OpenAI rolled out the feature in partnership with American Express, Mastercard, and Visa, noting that cardholders will retain their existing credit card rewards and purchase protections. Eligible users only need to input their card details once to let the agents search for products, though every payment requires the user’s confirmation via security verification. OpenAI stated that the agents will not access users’ actual card information; instead, payment networks will issue unique transaction-specific payment tokens, each containing a one-time card number, security code, and expiration date. The company added that ChatGPT Wallet will not charge transaction fees during its initial launch phase, with the current priority on building partnerships with merchants and payment networks. This marks OpenAI’s next step in extending the shopping process to payment, following its revamp of product search and price comparison functions in March this year. As of the end of the third quarter, ChatGPT boasts over 1.2 billion weekly active users and nearly 100 million paid subscribers. Merchants remain divided on AI agent-based shopping assistance: United Airlines will block AI agents from accessing its booking system, while Amazon does not allow agents to place orders on its platform. Alongside the announcement, OpenAI released merchant-facing tools and guidelines to help businesses check if their websites are inadvertently blocking its AI agents.

According to data from the BIT Stock Platform, all three major U.S. stock indexes turned lower: the Nasdaq fell more than 1%, the S&P 500 dropped 0.6%, and the Dow Jones Industrial Average declined 0.06%. The Philadelphia Semiconductor Index extended its loss to 4.2%, with AMD (AMD) slumping over 8%, Marvell Technology (MRVL), Broadcom (AVGO), and Arm (ARM) falling more than 5%, Intel (INTC) down 4.4%, Micron Technology (MU) declining 4%, and NVIDIA (NVDA) dropping 2.5%.

Chicago Federal Reserve Chair Austan Goolsbee told CNBC in an interview Friday that even as oil prices fall sharply, persistent issues with refining capacity will keep diesel and jet fuel prices elevated. He noted inflation is now spreading to sectors not driven by rising energy costs, adding the Federal Reserve cannot overlook inflation if demand overheats. Goolsbee cited data centers as a factor pushing up prices, while services inflation and rising healthcare costs give a clear impression they will not cool quickly in the near term. The Chicago Fed chief added the central bank is currently not on track to hit its 2% inflation target, and needs to address this issue to prevent demand from overheating; if data shows inflation is worsening, it will prompt the Fed to take more aggressive policy action.

Boston Federal Reserve Chair Collins hinted on Friday that tighter monetary policy may be needed to cool prices. In a speech centered on the housing market, Collins noted that higher interest rates could restrict housing affordability, but added that ensuring price stability will benefit both the housing market and the broader economy in the long term. "In the short term, the elevated interest rates sometimes required to cool the economy and curb inflation may raise the cost of buying and building homes," Collins said in her prepared remarks. "But in the long run, stable prices foster a predictable economic environment that benefits the housing market."