Fed Chair Warns of ‘Uncertain and Adverse’ Consequences of US Debt Default — ‘We’d Be in Uncharted Territory’

Fed Chair Powell Warns of 'Highly Uncertain and Adverse' Consequences of US Debt Default — 'We'd Be in Uncharted Territory'Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time,” he further cautioned. Fed Chair Jerome […]

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Fed Chair Powell on Crypto: We See Turmoil, Fraud, Lack of Transparency, Run Risk

Fed Chair Powell on Crypto: We See Turmoil, Fraud, Lack of Transparency, Run RiskFederal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk in the crypto space, he stressed: “We don’t want regulation to stifle innovation.” Fed […]

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US Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper Currency

U.S. Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper CurrencyA U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section 16 5103 of title 31, […]

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Fed Chair Jerome Powell Updates Work on Digital Dollar — Says US Central Bank Digital Currency Will Take ‘at Least a Couple of Years’

Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve […]

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Fed Chair Powell Sees ‘Real Need’ for More Appropriate Defi Regulation Citing ‘Very Significant Structural Issues’

Fed Chair Powell Sees 'Real Need' for More Appropriate Defi Regulation Citing 'Very Significant Structural Issues'Federal Reserve Chairman Jerome Powell says decentralized finance (defi) has “very significant structural issues,” emphasizing a “real need” for more appropriate regulation of the defi ecosystem. Fed Chair Jerome Powell on Defi Regulation Federal Reserve Chairman Jerome Powell talked about the regulation of decentralized finance (defi) Tuesday during a panel discussion on digital finance hosted […]

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IMF Expects US Economy to Experience High Inflation for at Least Another Year or Two

IMF Expects US Economy to Experience High Inflation for at Least Another Year or TwoThe International Monetary Fund (IMF) expects the U.S. economy to experience high inflation for at least another year or two. “I would be careful about looking at one data point for the U.S.,” IMF First Deputy Managing Director Gita Gopinath cautioned. IMF on US Economy and Global Inflation The first deputy managing director of the […]

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Fed Chair Powell Says Crypto Needs New Regulation Citing Risks to US Financial System

Fed Chair Powell Says Crypto Needs New Regulation Citing Risks to US Financial SystemThe chairman of the Federal Reserve, Jerome Powell, says crypto requires new regulation, citing that it presents risks to the U.S. financial system and could destabilize existing financial institutions. Fed Chair Powell Sees the Need for New Crypto Regulation Federal Reserve Chairman Jerome Powell talked about the need to establish new regulation for cryptocurrency Wednesday […]

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US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals

US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to IndividualsA U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,” he stressed. Bill Introduced to Prohibit the Fed From […]

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Fed Chair Jerome Powell Dismisses Cryptocurrencies as Financial Stability Concern but Warns They’re Risky

Fed Chair Jerome Powell Dismisses Cryptocurrencies as Financial Stability Concern but Warns They're RiskyFederal Reserve Chairman Jerome Powell says that he does not see cryptocurrencies as a financial stability concern. However, he noted that they are risky and “there’s big consumer issues for consumers who may or may not understand what they’re getting.” Fed Chair Powell Says Cryptos Are Risky but Currently Not a Financial Stability Concern Fed […]

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Twitter CEO Jack Dorsey Warns Hyperinflation Will Soon Happen in US and the World

Twitter CEO Jack Dorsey Warns Hyperinflation Will Soon Happen in US and the WorldTwitter and Square CEO Jack Dorsey has warned that hyperinflation will soon happen in the U.S. and elsewhere in the world. “Hyperinflation is going to change everything. It’s happening,” he predicted. Many people disagreed with him, however. US Will Soon Experience Hyperinflation, Says Twitter CEO Jack Dorsey The CEO of Twitter and Square Inc., Jack […]

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