Based on today's economic data releases, here are the key market data points that were released today (September 26, 2025): Personal Income (Month-over-Month) Personal income increased 0.4% for the month, which was 0.1 percentage point above estimates. This is a positive sign for the economy. Other Major Data Points Released Today: 1. PCE Inflation (Core): The core PCE price level was 2.9% on an annual basis after rising 0.2% for the month - this was in line with expectations. 2. Headline PCE Inflation: The personal consumption expenditures price index posted a 0.3% gain for the month, putting the annual headline inflation rate at 2.7%. 3. Personal Consumption Expenditures: Personal consumption expenditures accelerated at a 0.6% pace, which was also 0.1 percentage point above estimates. Assessment - Good or Bad: This data is generally positive for the economy: Personal income growth beating expectations suggests healthy wage growth and consumer financial health Consumer spending exceeding forecasts indicates economic resilience and consumer confidence Inflation remaining stable at expected levels means the Fed's policies are working without derailing growth All of the numbers were in line with the Dow Jones consensus forecast, showing economic predictability The data supports the Fed's current monetary policy path, as the readings are unlikely to change course for policymakers who last week indicated they see two more quarter percentage point reductions before the end of the year. Overall, this represents a "Goldilocks" scenario - growth without runaway inflation. GOLDILOCKS !! "Just Right" Economic Growth: The economy is growing at a steady, sustainable pace Not growing so fast that it causes overheating and inflation Not growing so slowly that it leads to recession or high unemployment "Just Right" Inflation: Inflation is moderate and predictable (around the Fed's 2% target) Not so high that it erodes purchasing power and requires aggressive rate hikes

1. GENIUS Act Signing: President Donald Trump has signed the GENIUS Act into law, aiming to lead the global digital currency revolution, prioritize consumer protection, strengthen the U.S. dollar’s reserve currency status, and bolster national security in the digital market. The act includes regulations for stablecoins, reserve requirements, alignment of state and federal frameworks, and combatting illicit activity in digital assets. 2. Expanding Crypto Empire: The Trump family is expanding their cryptocurrency empire with plans for a digital asset treasury company called Trump Media Group CRO Strategy in partnership with Crypto.com. This expansion aligns with efforts to position the United States as a global leader in cryptocurrency. 3. "Crypto Week" Announcement: The House of Representatives announced the week of July 14th as "Crypto Week." During this time, the House plans to consider key legislation related to digital assets, including the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate's GENIUS Act. These legislative efforts aim to establish a clear regulatory framework for digital assets to make America the crypto capital of the world. These developments indicate a significant focus on digital assets and cryptocurrency within the Trump administration, with efforts to promote innovation, consumer protection, and the leadership of the United States in the digital assets market. Stay tuned for further updates and announcements related to these initiatives. text of the GENIUS Act (S. 1582) that was passed by Congress on July 18, 2025. The full text of the bill is quite detailed, but here is a summary of key points based on the provided information: 1. Short Title: The Act is named the "Guiding and Establishing National Innovation for U.S. Stablecoins Act" or the GENIUS Act. 2. Purpose: The Act is designed to provide for the regulation of payment stablecoins and includes provisions for other purposes related to digital assets. 3. Definitions: The Act includes definitions for terms such as Bank Secrecy Act, Board (referring to the Board of Governors of the Federal Reserve System), Comptroller (referring to the Comptroller of the Currency), Comptroller-regulated entity, Corporation (referring to the Federal Deposit Insurance Corporation), digital asset, distributed ledger, Federal qualified nonbank payment stablecoin issuer, institution-affiliated party, and insured depository institution. 4. Regulation: The Act aims to regulate payment stablecoins issued by nonbank entities, establish certifications for payment stablecoin issuers, and provide oversight by primary Federal payment stablecoin regulators. 5. Digital Assets: The Act addresses digital representations of value recorded on cryptographically-secured distributed ledgers and the use of technology to maintain the integrity of public ledgers. 6. Stability and Security: The Act includes measures to ensure the stability and security of payment stablecoins, as well as to regulate and supervise Comptroller-regulated entities.