Search Results for: Federal Reserve Chairman Jerome Powell

G7 to Discuss More Crypto Regulation and How to Help Developing Nations Introduce Central Bank Digital Currencies

by

The G7 countries are discussing more crypto regulation and ways to help developing nations introduce central bank digital currencies (CBDCs). “As a priority of this year, the G7 will consider how best to help developing countries introduce CBDC consistent with appropriate…

Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’

by

Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit…

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

by

Federal 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…

Bank of America, Goldman Sachs, JPMorgan, UBS Share Predictions About Further Fed Rate Hikes

by

Bank of America, Goldman Sachs, JPMorgan, and UBS have shared their predictions about the Federal Reserve raising interest rates further. Bank of America and Goldman Sachs, for example, now expect the Fed to raise interest rates three more times this year….

Indian Central Bank RBI Begins First Digital Rupee Pilot Today

by

India’s central bank, the Reserve Bank of India (RBI), is launching its first digital rupee pilot on Nov. 1. with the participation of nine banks. “Settlement in central bank money would reduce transaction costs by pre-empting the need for settlement guarantee…

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

by

The 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….

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

by

Federal 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…

US Treasury Secretary Yellen Says She’s Undecided Whether the Fed Should Issue Digital Currency

by

The U.S. Treasury Secretary Janet Yellen says that she has not made up her mind about whether the Fed should issue a central bank digital currency (CBDC). “There are some benefits” to a digital dollar, Yellen said, but noted that “there…

Bank of America Executive Sees Crypto as Asset Class: ‘I Don’t View It as Competition at All’

by

Bank of America’s chief operating officer does not see cryptocurrency as competition. Instead, he views it as an asset class, noting that “people like it for all sorts of different reasons.” Bank of America’s COO on Crypto: ‘I Don’t View It…

St. Louis Fed’s James Bullard Would ‘Support Starting the Taper in November’ to React to Inflation

by

St. Louis Federal Reserve president James Bullard told the press on Tuesday that he thinks the U.S. central bank needs to wind down the buying of $80 billion worth of monthly bond purchases. Bullard says he would support tapering starting as…