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Fed Chair Powell Eases CBDC Concerns: US Far From Direct Fed Accounts, Emphasizes Need for Congressional Approval

Fed Chair Powell Eases CBDC Concerns: US Far From Direct Fed Accounts, Emphasizes Need for Congressional ApprovalFederal Reserve Chairman Jerome Powell engaged with the Senate Banking Committee, signaling that the U.S. is just beginning to contemplate the introduction of a central bank digital currency (CBDC). Powell Assures No Direct Fed Accounts in CBDC Plans, Seeks Congressional Go-Ahead In his conversation with the Senate Banking Committee, Fed Chair Jerome Powell explored the […]

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Fed Chair Powell Says ‘Very Premature’ to Pause Interest Rate Hikes — Economist Warns It Will Crash Economy

Fed Chair Powell Says ‘Very Premature’ to Pause Interest Rate Hikes — Economist Warns It Will Crash EconomyFederal Reserve Chairman Jerome Powell says that it is “very premature” to think about pausing rate hikes. “We have a ways to go,” he stressed. However, economist Peter Schiff warned that “Planned rate hikes and QT will only succeed in crashing the economy, not bringing down inflation.” Fed Chair Powell Says ‘Very Premature’ to Talk […]

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US Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper Currency

US Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper CurrencyA U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section 16 5103 of title 31, […]

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Fed Chair Jerome Powell Updates Work on Digital Dollar — Says US Central Bank Digital Currency Will Take ‘at Least a Couple of Years’

Fed Chair Jerome Powell Updates Work on Digital Dollar — Says US Central Bank Digital Currency Will Take ‘at Least a Couple of Years’Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve […]

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

IMF Expects US Economy to Experience High Inflation for at Least Another Year or TwoThe 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. IMF on US Economy and Global Inflation The first deputy managing director of the […]

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Fed Chair Powell: We’re Not Seeing Significant Macroeconomic Implications From Crypto Sell-Off

Fed Chair Powell: We’re Not Seeing Significant Macroeconomic Implications From Crypto Sell-OffFederal Reserve Chairman Jerome Powell says the central bank is “not really seeing significant macroeconomic implications” from crypto’s volatility. The Fed chair stressed that there is a need for a better crypto regulatory framework. Fed Chair Powell Says Crypto Needs Better Regulation Federal Reserve Chairman Jerome Powell testified before the Senate Committee on Banking, Housing, […]

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Joe Biden Claims Inflationary Pressure ‘Rests With the Federal Reserve,’ Praises the Fed’s ‘Extraordinary Support’ 

Joe Biden Claims Inflationary Pressure ‘Rests With the Federal Reserve,’ Praises the Fed’s ‘Extraordinary Support’ On Wednesday, U.S. president Joe Biden explained that the country’s central bank was dealing with a large share of the inflationary pressures the American economy is dealing with today. Biden welcomes the possibility of tightening monetary easing and noted that he “respects the Fed’s independence.” US President Joe Biden Says a ‘Critical Job in Making […]

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US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals

US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to IndividualsA U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,” he stressed. Bill Introduced to Prohibit the Fed From […]

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Fed’s Outgoing Vice Chair Richard Clarida’s ‘Rebalancing’ Trades Ignite Fed Trading Ethics Scandal

Fed’s Outgoing Vice Chair Richard Clarida’s ‘Rebalancing’ Trades Ignite Fed Trading Ethics ScandalMembers of the U.S. Federal Reserve are getting criticized this week after the central bank published its minutes report from the policy meeting on December 14-15. Following the update, the outgoing vice chair of the Federal Reserve’s trading activities has reignited ethics conversations. Richard Clarida’s Trades Under Scrutiny The U.S. central bank can shake up […]

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Fed Chair Jerome Powell Could ‘Slow Crypto Down’ in His Second Term, Warns Billionaire Mike Novogratz

Fed Chair Jerome Powell Could ‘Slow Crypto Down’ in His Second Term, Warns Billionaire Mike NovogratzBillionaire investor Mike Novogratz has cautioned that Federal Reserve Chairman Jerome Powell could slow down the crypto market in his second term in office. Commenting on his renomination, Novogratz said Powell could “act more like a central banker than a guy that wants to be reappointed.” How Jerome Powell’s Second Term as Fed Chair Could […]

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