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Fed governor Randal Quarles resigned his position effective as of the end of December, while Richard Clarida is expected to leave in January 2022, leaving three vacancies in the group of seven serving at the Federal Reserve. Go to Source Powered by WPeMatico
BTC, stocks and commodities took a hit after the Federal Reserve acknowledged that inflation is more than just a “transitory” problem and hinted that tapering could occur sooner than expected. Go to Source Powered by WPeMatico
Jerome Powell cited CBDCs and digital assets in his speech to open the New York Innovation Center at the Federal Reserve’s local offices. Go to Source Powered by WPeMatico
The world’s sixth-largest economy could adopt a hardline stance against decentralized cryptocurrencies as soon as this winter. Go to Source Powered by WPeMatico
“The idea of having a tokenized dollar that is capable of being exchanged on a peer-to-peer basis on a platform where developers can innovate and develop new products and services… I think there’s a strong case for that,” said Pat Toomey. Go to Source Powered by WPeMatico
Government agencies are planning to adjust compliance standards on existing laws and regulations related to custody services, buying and selling crypto, crypto-collateralized loans, HODLing, and the issuance of stablecoins. Go to Source Powered by WPeMatico
U.S. president Joe Biden revealed his intent on Monday to re-nominate Jerome Powell as the Federal Reserve chairperson. Major indices and stocks gained on the news that Powell will get a second term as the head of the central bank. Biden Chooses to Renominate Fed Chair Jerome Powell On Monday, president Joe Biden revealed that … Read more
During his time as Fed chair, Powell has said the agency was “working proactively to issue a CBDC” but was unlikely to support a blanket ban on crypto. Go to Source Powered by WPeMatico
Inflation in the U.S. has a large number of Americans worried about the future of their purchasing power as the cost of goods and services has continued to rise faster every month. Reports note that Americans are struggling to pay for child care, groceries, gasoline, lumber, healthcare supplies, and used vehicles. On Friday, Harvard economist … Read more
Federal Reserve Board Governor Christopher Waller says that stablecoins do not need to be regulated with all the same rules as banks. He disagrees with some of the recommendations on stablecoin regulation by the President’s Working Group on Financial Markets. He explained that while banks should be able to issue stablecoins, not all stablecoin issuers … Read more
