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While the U.S. ramps up discussions of a digital dollar and China’s central bank digital currency (CBDC) draws near, Japan’s CBDC, otherwise known as the digital yen, is getting closer to its realization as well. Japan’s ruling Liberal Democratic Party member, Hideki Murai, explained in a recent interview this week that more clarity on the … Read more
Armstrong said he had spoken about China’s central bank digital currency with lawmakers and heads of federal agencies, believing it to be “a threat to U.S. reserve currency status long term.” Go to Source Powered by WPeMatico
Safe-haven rivals move inversely to one another in a quarter mired by mixed inflation reports, Elon Musk FUD, and a suddenly hawkish Federal Reserve. Go to Source Powered by WPeMatico
Though Randal Quarles said there was a “legitimate and strong regulatory interest in how stablecoins are constructed and managed,” a U.S. dollar-pegged coin could help provide support for its fiat counterpart. Go to Source Powered by WPeMatico
John Williams responded to a presentation from Mark Carney, the former head of the Bank of Canada and Bank of England, about the potential for issuing central bank digital currencies. Go to Source Powered by WPeMatico
The U.S. economy is looking stagnant according to data stemming from the Bureau of Economic Analysis, as core personal consumption expenditures (PCE) jumped 3.4% in May from a year prior. The recent PCE spike is the highest year-over-year basis change since 1992 and the statistic is fueling inflation concerns. Amid ‘Never Ending’ Market Rallies, Core … Read more
Boston Federal Reserve president Eric Rosengren discussed stablecoins in a recent presentation on June 25. Rosengren stressed that stablecoins could be a “disruptor” to prime money market funds and the Boston Fed president remarked that the exponential growth of stablecoins is concerning. Rosengren: ‘We Should Be a Bit Concerned About Stablecoin Markets Growing Very Rapidly’ … Read more
Boston Federal Reserve President Eric Rosengren notes that Tether could be a “disruptor” to short term credit markets. Go to Source Powered by WPeMatico
Data on Friday showed core personal consumption expenditure in the US surged to 3.42% year-over-year for the first time since 1991. Go to Source Powered by WPeMatico
Bitcoin flashes a classic bearish technical pattern that could crash BTC prices to below $20,000. Go to Source Powered by WPeMatico
