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Following the policymaker’s survey, U.S. Representative Thomas Massie (R-Ky.) announced the introduction of H.R. 8421, known as the “Federal Reserve Board Abolition Act.” This legislation aims to dismantle the Board of Governors of the Federal Reserve and close its branches across the continental United States. Federal Reserve Board Abolition Act Resurfaces Two days ago, Massie, … Read more
On May 15, Thomas Massie, a Republican member of the United States House of Representatives, posted on X, inquiring whether he should introduce legislation to abolish the U.S. Federal Reserve. The poll garnered over 115,000 votes, with a significant 86% majority opting to “end the Fed.” Rep. Thomas Massie Questions Introducing Bill to Abolish U.S. … Read more
The Reserve Bank of Zealand has said the proposed digital version of the country’s physical cash would provide universal access to central bank money, either in physical cash or digital form. According to the central bank, the digital version will not only be government-backed but will also be denominated in the local currency. Universal Access … Read more
The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial … Read more
On Monday, Morgan Stanley’s equity strategist, Michael Wilson, shared his thoughts on the state of Wall Street. He expressed his belief that a sell-off could be imminent, and that this could occur as a result of U.S. Federal Reserve chairman Jerome Powell’s upcoming remarks on Wednesday. Furthermore, there has been a great deal of conjecture … Read more
After the most recent increase in the federal funds rate, the U.S. Federal Reserve is set to raise the lending rate by 25 basis points (bps) to 5.25% in three days, according to expectations. A recent poll of 105 economists revealed that 94 of them predict a 25bps rate hike will occur during the May … Read more
This week, the Statistics Bureau of Japan unveiled the latest core consumer price index (CPI) report for the country, revealing a surge to 3.5%. This figure comes as a surprise to analysts who had predicted a more modest 2.9% for the end of the quarter. It’s worth noting that Japan’s inflation has been steadily rising … Read more
Micheal Saylor, the founder of Microstrategy, has told people living in inflation-stricken Argentina that they now “need bitcoin.” While many bitcoiners have welcomed Saylor’s suggestion, a few critics have said the top crypto asset’s volatility makes it an unsuitable alternative for the faltering local currency. The Dollarization Option As the Argentinian currency — the peso … Read more
Cathie Wood thinks Bitcoin and Ether are acting as “risk-off” assets and as a “flight to safety” for investors amid macroeconomic uncertainty. Go to Source Powered by WPeMatico
Economist Paul Krugman questioned why Republican Florida governor Ron DeSantis opposes a central bank digital currency (CBDC) in a recent opinion editorial. Krugman suggested that DeSantis may be motivated by “general paranoia.” He speculated that DeSantis may be influenced by individuals who fear a digital currency could hinder “un-woke activities such as tax evasion and … Read more
