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Allianz Chief Advisor El-Erian expects the Fed to cut rates only once this year, which contrasts with market and Fed expectations. The market has fully priced in the expectation of at least two rate cuts in 2025 and likely a third. Overall, they expect about 70 basis points of rate cuts this year, with the first 25 basis points cut in July. Meanwhile, the Fed's latest dot plot calls for only two rate cuts. The Fed is ‘inherently dovish’, El-Erian said, adding that he was concerned that the Fed was ignoring weak economic data and calling the impending tariffs temporary until it really knows the details of those tariffs and how countries will respond.

Odaily Planet - First Digital's February Reserve Account Report shows that First Digital has total reserve assets of $2,051,348,188.70, with 2,041,924,819.94 FDUSDs issued (in circulation), and more than 100 per cent of its reserve assets covered by FDUSDs in issue, in line with the 1:1 The reserve assets cover more than 100 per cent of the issued FDUSD, meeting the 1:1 reserve requirement.