Federal Reserve

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Bitcoin Halving Will Drop Inflation Rate Lower Than Central Banks’ 2% Target Reference

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When Satoshi Nakamoto invented Bitcoin, the creator designed the protocol to be an inflationary currency, one that is predictable as bitcoin’s inflation always decreases every four years. Today, 77 days before the reward halving, BTC’s inflation rate is around 3.6% and it’s expected to drop to 1.8% after the halving event. The cryptocurrency’s inflation rate … Read more

‘Central Banking Is Socialism for the 1%’ – Report Cites Wealth Inequality Driven by Stimulus

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For a while now, central banks like the Federal Reserve have been participating in quantitative easing (QE) practices, despite the fact they don’t like to call it QE. Following the massive dollar injections, a recent report from the wealth insights provider Wealth-x details the number of wealthy people in the world spiked in 2019. The … Read more

Regulatory Roundup: Trump’s Cryptocurrency Proposals, IRS Changes Rule, China Quarantines Cash

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In this roundup, we cover numerous cryptocurrency regulatory developments in the U.S., including President Trump’s crypto proposals, testimonies by the Federal Reserve chairman and the Treasury secretary, a crypto-friendly SEC proposal, and the IRS changing a crypto tax rule. We also cover China quarantining yuan bills, its central bank filing 84 digital currency patents, 40 … Read more

Bitcoin and Cryptocurrency Are ‘Like a Giant Garbage Dumpster,’ Says Minneapolis Federal Reserve President

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The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Tuesday that bitcoin and other cryptocurrencies are “like a giant garbage dumpster.” He would rather his one-year-old daughter have a low yielding Treasury bond than a bitcoin, emphasizing that all that’s emerging from the crypto world “is burning garbage.” Also read: Fed … Read more

Fed Chair Powell Reveals US Response to China’s Digital Yuan, Libra, Public Payments Ledger

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In his testimony before the House Financial Services Committee, Federal Reserve Chairman Jerome Powell answered a number of questions regarding digital currencies. While stating that “a ledger where you know everybody’s payments” is not a problem in China, he believes it is not attractive for the U.S. Admitting that Facebook’s Libra project was a wake-up … Read more

Facebook, China Light Flame Under Fed: Governor Cites Stablecoins Influencing Digital Dollar Research

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At the recent Symposium for Future Payments held in Stanford, California on February 5, Federal Reserve Governor Lael Brainard stressed the importance of remaining “on the frontier of research and policy development regarding CBDC.” The position seems a contrast to the narrative in 2018 when Brainard maintained “there is no compelling demonstrated need for a … Read more

Trump ‘Loves’ Negative Rates and ‘Could Get Used to’ Them, Criticizes Fed at World Economic Forum, China Trade Deal

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U.S. President Donald Trump spoke at the World Economic Forum in Davos, Switzerland Tuesday saying the U.S. and other nations are “forced to compete … with nations that are getting negative rates, something very new.” Trump took direct shots at the U.S. Federal Reserve, claiming they’ve not lowered rates quickly enough. The harsh words echo … Read more