Federal Reserve

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Nobel Laureate Ben Bernanke Blasts Cryptocurrencies, Says Tokens ‘Have Not Been Shown to Have Any Economic Value at All’

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Ben Bernanke, former chairman of the Federal Reserve and also the winner of the 2022 Nobel Prize in economics, has recently blasted the concept of cryptocurrencies. In an interview with Dagens Nyheter, one of the biggest Swedish journals, Bernanke remarked that cryptocurrencies have not proven they have any economic value at all. Ben Bernanke Blasts … Read more

President of Bank of Brazil Shows ‘Open Finance’ Digital Real Concept Featuring Stablecoin Integration and Payments Functionality

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Roberto Campos Neto, president of the Bank of Brazil, explained the role that the Brazilian central bank digital currency (CBDC), the digital real, might play in the future of personal finance. At an event, Neto explained the concept of “open finance,” showing a “super app” that featured PIX (a payments network) functionality, and also integration … Read more

Amid Civil Unrest in China, Gold and Silver Prices Hold Steady — Equity, Crypto Markets Flounder

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Reports on Monday detail that the zero-Covid policy protests in China have lowered market sentiment as U.S. equity markets show the top four Wall Street indexes are struggling. The global crypto market cap is down 3.5% and getting awfully close to dropping below the $800 billion mark. Precious metal prices, on the other hand, like … Read more

Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed’s Brainard Pushes for Strong Regulation

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U.S. Treasury Secretary Janet Yellen and Federal Reserve Vice Chair Lael Brainard have stressed the need for strong crypto regulation. Yellen said the FTX collapse shows “the weaknesses” of the entire crypto sector while Brainard cautioned that failures from one platform are “spilling over into elsewhere.” Yellen: Crypto Needs ‘Very Careful Regulation’ U.S. Treasury Secretary … Read more

Ark Invest CEO Warns Fed’s Actions Could Lead to 1929-Like Great Depression — Elon Musk Agrees

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The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO and Twitter chief Elon Musk agreed. The Fed, Inflation, and the Great Depression Ark Invest CEO Cathie Wood, who is also … Read more