Tag Archives: federal reserve

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

Arthur Hayes – co-founder of the crypto trading platform BitMex – published a lengthy blog post on Thursday arguing that central banks will be forced back into “money printing” due to various economic pressures. That money printing, he argued, will create inflation that drives up the price of alternative forms of money, like crypto and gold.  Inevitable Inflation In Hayes’s post titled “Contagion,” the former CEO began by highlighting the immediate difficulties of the global...

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

Philip Jefferson – one of the Federal Reserve’s three newest governors – has re-emphasized the central bank’s plans to continue fighting inflation.  The former college professor said he and his colleagues are committed to taking “further steps necessary” to address the problem, and gave no indication that they would consider dovish monetary policy in the near term.  Fed Will Stay the Course The governor delivered his remarks to a conference in Atlanta organized by three of...

The United Nations Conference on Trade and Development (UNCTAD) released a report on Monday warning that central bank monetary and fiscal policy is putting the global economy in danger.  It claimed that U.S. interest rate hikes in particular will cut $360 billion in future income from developing countries.  A Crisis in Developing Countries According to the report, UNCTAD projects a global economic growth slowdown to 2.5% in 2022, and 2.2% in 2023. This will cost the planet...

Janet Yellen – an American economist currently serving as the 78th US Secretary of Treasury – has displayed her anti-crypto position numerous times. During her 20-month reign, she has argued that bitcoin is unsuitable for conducting financial transactions and that people should not rely on investing in digital assets as part of their retirement strategy. Some recent reports hinted that Yellen could leave her post after the midterms at the beginning of November. It remains...

Billionaire investor Stanley Druckenmiller said that crypto could make a comeback as citizens begin to distrust their central banks.  The hedge fund manager sees this outcome as increasingly possible given the state of the global economy, and the Fed’s uphill battle against both inflation and recession.  Recession is Coming, Says Druckenmiller During an interview at the CNBC Delivering Alpha Conference on Wednesday, the Duquesne Family Office CEO began by criticizing the...

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

Federal Reserve Chairman Jerome Powell said that a central bank digital currency (CBDC) in the U.S. would “not be anonymous” during an event hosted by the Bank of France on Tuesday.  He described the key properties that would underpin a CBDC if implemented – one of which includes being “identity verified.” Private, But Not Anonymous The chairman’s comments were in response to an audience question about the anonymity of many cryptocurrencies, and whether CBDCs would mimic this...

Following a two-day Federal Open Markets Committee (FOMC) meeting, the Federal Reserve has risen its benchmark interest rate by another 75 BPS.  Bitcoin’s price reacted erratically to the news, dropping by $1000 mere moments after the announcement.  The hike, revealed at 18:00 UST on Wednesday, takes the central bank’s new policy rate up between 3.0% to 3.5%.  Most investors expected a 75-point rise heading into the meeting, but markets had priced in a roughly 15% chance of a...