The United States Federal Reserve needs its own digital currency to protect against a possible overnight proliferation of stablecoin technology, says Fed chairman Jerome Powell.
The U.S. is going slow on central bank digital currencies (CDBCs) considering the risks they may pose to the dollar’s dominance, the Fed Chair said Thursday.
With a runway of a year or more before the Federal Reserve and other major central banks can launch digital currencies, bitcoin and other private cryptocurrencies could gain a foothold in electronic commerce.
Former Federal Reserve Governor Kevin Warsh is bullish on bitcoin. He sees all assets that are not controlled by the U.S. government “going through the roof,” unlike those the Fed purports to control. He has outlined three reasons why bitcoin makes sense to him. Why Former Fed Governor Is Bullish on Bitcoin Kevin Warsh was […]
“I guess if you are under 40 bitcoin is your new gold,” Warsh said.
A side effect of the Fed’s medicine for the pandemic-stricken U.S. economy was to create conditions ideal for the rise of cryptocurrencies.
This week the U.S. Federal Reserve met for two days at the Federal Open Market Committee meeting and detailed that it would keep short-term borrowing rates at near zero. Meanwhile, the Fed also stated that it would continue buying bonds until the U.S. economy returns to full employment. America’s central bank met this week for […]
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The highly anticipated Bank of America fund manager survey has been published, and this December fund managers who participated in the survey are sweeping up risk assets. The asset managers have dropped cash for the first time in close to seven years, as levels are down 4%. Moreover, strategists at Bank of America Corp. now […]
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