Category: Federal Reserve

Jerome Powell says the Fed’s work on stablecoin risks is a ‘very high priority’

Jerome Powell says the Fed’s work on stablecoin risks is a ‘very high priority’

Federal Reserve chairman Jerome Powell described the central bank’s work on stablecoins as a “very high priority” during a webinar on Thursday.  “Clearly there’s a need for, and we’ve been very focused as you know, on better regulatory answers for potential global stablecoins, in particular,” Powell said during a segment that focused in part on central […]

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Bitcoin Correlation With US Dollar Reaches a New Low Owing to Recent Printing Spree

Bitcoin bounced back strongly today after a record price crash of more than $10,000 on Monday. The top cryptocurrency is currently trading above $38,000 and looking to reclaim its position above $41,000. Source: TradingView At the start of 2020 bitcoin was struggling to keep its position above $10k and had a strong co-relation with S&P […]

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Bitcoin ‘Going Through the Roof’ Unlike Assets Controlled by Government, Says Former Fed Governor

Bitcoin ‘Going Through the Roof’ Unlike Assets Controlled by Government, Says Former Fed Governor

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 […]

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Bitcoin’s Price Surge Hurts Gold’s Performance: Former Fed Governor Changes His Mind On BTC

Bitcoin’s Price Surge Hurts Gold’s Performance: Former Fed Governor Changes His Mind On BTC

A few years after questioning bitcoin’s role in the financial markets, the former Federal Reserve governor Kevin Warsh has changed his mind, saying that owning BTC “makes sense” now. Furthermore, he breached the decade-old comparison between bitcoin and gold and said that the cryptocurrency is taking portions of the yellow metal’s market share. Former Fed […]

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Fiat Freeway: GMO’s JPY-pegged Stablecoin Rises in the Big Apple and Fed Researchers Weigh-in on Digital Asset Tokens vs. Accounts

Fiat Freeway: GMO’s JPY-pegged Stablecoin Rises in the Big Apple and Fed Researchers Weigh-in on Digital Asset Tokens vs. Accounts

Quick Take ‘Fiat Freeway’ is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins.  This week’s column first examines GMO-Z.com Trust Company Inc.’s trust charter approval from the New York State Department of Financial Services (NYDFS).  We conclude with a review of a recent FEDS Note on the tokens […]

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QE Infinity: US Fed to Keep Rates at Zero, Billion-Dollar Bond Purchases Until Economy Recovers

QE Infinity: US Fed to Keep Rates at Zero, Billion-Dollar Bond Purchases Until Economy Recovers

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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Bank of America Investor Survey Highlights the Most Crowded Trades: ‘Long Tech, Short USD, Long Bitcoin’

Bank of America Investor Survey Highlights the Most Crowded Trades: ‘Long Tech, Short USD, Long Bitcoin’

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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As Citizens Suffer Central Banks Flush Trading Houses With Trillions, Ease Corporate Strains

As Citizens Suffer Central Banks Flush Trading Houses With Trillions, Ease Corporate Strains

Central banks across the world have been increasing stimulus and letting inflation run high in order to combat the disastrous economic effects of the coronavirus outbreak response. The Bank of Japan has recently become the country’s largest stockholder and the European Central Bank is prepared to expand its colossal stimulus program. Meanwhile, Federal Reserve Chair […]

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Biden announces nomination of Janet Yellen to lead Treasury Department

Biden announces nomination of Janet Yellen to lead Treasury Department

President-elect Joe Biden has confirmed the nomination of former Federal Reserve Chair Janet Yellen as the next Secretary of the U.S. Treasury Department, the Biden transition team announced Monday.  If confirmed, Yellen will be the first woman ever to lead the department. She will also take the reins of a government department that has slowly […]

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