Federal Reserve Bank of St. Louis Really Gets Bitcoin
The Federal Reserve Bank of St. Louis recently held a "Dialog with the Fed" on bitcoin basics. The events are "designed to address the key economic and financial issues of the day and to provide the opportunity to ask questions of Fed experts." The discussions, which began in the fall of 2011, are held at the St. Louis Fed and its branches, and are free....
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David Andolfatto, Vice President of the Federal Reserve Bank of St. Louis, is not quick to dismiss Bitcoin. Vice President of the Federal Reserve Bank of St. Louis David Andolfatto released a report on Bitcoin (PDF) yesterday, and it gave the Bitcoin community another peak into what financial regulators really think about cryptocurrency. The report is 36 pages long, but one of the most interesting slides in the report has to do with Bitcoin's effect on taxation. It talks about how the recent IRS ruling could limit the bitcoin's attractiveness as a currency, but the St. Louis Fed also....
Cryptocurrency sell-off is not a systematic concern for the Fed and does not affect Fed’s policies, two Federal Reserve Bank presidents said Wednesday. “We are all quite aware that crypto can be very volatile,” said the president of the Federal Reserve Bank of St. Louis. Crypto Sell-off Does Not Change Fed Policy Two Federal Reserve Bank presidents have commented on the steep sell-off in cryptocurrencies Wednesday. St. Louis Federal Reserve President James Bullard, who firmly believes that cryptocurrency poses no threat to the U.S. dollar, said: By itself I don’t....
An interest in bitcoin and digital currency makes Federal Reserve Bank of St Louis vice president and research director David Andolfatto something of a rarity among Fed officials. However, while he may see the technology's big picture, why he believes bitcoin is potentially transformative doesn't exactly fall in line with the common mantras of the community. Take, for instance, the claim that bitcoin is part of a long-term trend toward "digital money", one Andolfatto delights in debunking. Today, virtually all money used by the private banking sector, and all the money in modern economies,....
On 31st March, the Federal Reserve Bank of St. Louis - one of the 12 Federal Reserve banks - held a talk on bitcoin from a banking and economic viewpoint. The session, entitled 'Bitcoin and Beyond: The Possibilities and the Pitfalls of Virtual Currencies', was presented by economist David Andolfatto, who is Vice President at the bank and a professor at Simon Fraser University. Andolfatto offered some interesting insight into bitcoin from his perspective. Many aspects of the talk were positive about the digital currency, some were more negative, and overall the session was quite balanced.....
The president of the Federal Reserve Bank of St. Louis, James Bullard, has called for more aggressive measures to combat inflation and reduce the size of the Fed’s balance sheet. “The burden of excessive inflation is particularly heavy for people with modest incomes and wealth and for those with limited ability to adjust to a rising cost of living,” he stressed.
Fed’s Bullard Pushes for More Aggressive Rate Hikes to Better Manage Economic Situation
St. Louis Federal Reserve Bank President James Bullard issued a statement Friday regarding his....