US Federal Reserve

As expected, massive inflation prompted the Fed to turn hawkish on inflation. On Wednesday, the Federal Reserve stated that it would speed up the removal of monetary policy support. This includes tapering its $90 billion monthly bond purchases and hiking interest rates. Interest rates are currently at historic lows of 0.25%. What influenced the decision is likely the steep rise in inflation numbers. November CPI, a measure of consumer prices, rose 6.8% compared to the same period last year. Moreover,…

Bitcoiners have maintained that inflation is here to stay for months, and politicians wake up to that reality. Janet Yellen – Treasury Secretary of the United States – recently admitted that rising prices in the US are no “transitory” phenomenon. Her words echo those of Federal Reserve Chairman Jerome Powell, who said days ago that we should “retire” the term. Inflation Isn’t Ending Soon, Says Yellen Yellen offered her inflation forecast during a Reuters-sponsored event on Thursday. According to the…

While Jerome Powell remains cautious of the stablecoin sector, he has big plans for utilizing cryptocurrency technology for American benefit. In a recent statement, he announced a related partnership between the Federal Reserve and the Bank of International Settlements. Together, the organizations will analyze how Central Bank Digital Currencies (CBDCs) can improve the current global financial system. Powell’s Plans For CBDCs The chairman announced the partnership during his opening remarks for the “Introducing the New York Innovation Center Event,” earlier…

Cryptocurrency fans and investors just breathed a major sigh of relief. Jerome Powell– Chairman of the Federal Reserve– has confirmed that he “has no intention” to ban cryptocurrency in the US. Powell’s Position on Crypto The chairman confirmed and clarified his position today while testifying in front of congress. House Representative Ted Budd asked Powell to explain one of his previous statements on the matter.  [caption id="" align="aligncenter" width="967"] Jerome Powell. Source: Reuters[/caption] In July, Powell joined a slew of…

Bitcoin’s price incurred an upsurge above $9.5k yesterday while the U.S. Fed. Reserve left benchmark lending rates close to zero and talked about the provision of another stimulus. Bitcoin rose by more than 4.98 percent yesterday thereby attaining $9,233, following the warning by the U.S. Federal Reserve regarding a medium-term economic disaster prompted by the current COVID-19 pandemic. The price of Bitcoin has been on the upside by over 30 percent in the past seven days as halving is imminent.…

The backdrop of current worldwide economic trouble is a concern when it comes to the performance of Bitcoin. However, up till this moment, Bitcoin has done well such that it posted year-to-date gains while the performance of equities market is still well beneath its level in the beginning of 2020. At the moment, there are two swiftly emerging events which may prompt both prevalent adoption and accumulation for Bitcoin. These two events have the potential to bolster the benchmark cryptocurrency…

The United States Federal Reserve plans to buy unlimited bond and also print dollar but do not appear to be going well. The country continues to experience a rising unemployment rate. Nonetheless, it appears that the cryptocurrency space has a solution to this challenge. Mark Yusko of Morgan Creek Capital spoke on a recent podcast, suggesting that a central bank digital currency (CBDC) may help with the plan of printing dollar bills. Yusko said CBDCs may help with faster distribution in…

Some factors should make traders go short on Bitcoin following the 50 percent crash in March. The crash compelled numerous people to abandon the crypto domain as the liquidity of cryptocurrency markets fell recently. Dan Tapiero of DTAP Capital and Gold Bullion International noted the unbelievable nature of the latest price action in the investment-level corporate bond market. Charts revealed that corporate bonds’ index is about to attain its lifetime highs following an extreme 20 percent retracement, coming from bonds…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $173 billion. Bitcoin gains 10% in dollar value and trades safely above the $6,500 mark. Ethereum traded steadily between $135 and $140 XRP rises to $0.19 but drops by 3% on the weekend The Trump Administration announces a $2 trillion economic stimulus. The equity market also increases by 10% Covid-19 has now spread to…