How Bitcoiners Should Watch the US Federal Reserve Meeting on Wednesday
Comments from Fed chair Jerome Powell could tell bitcoiners how committed the central bank is to staying the course on low interest rates through the rest of the year.
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On Friday, May 9th, 2014, the Federal Advisory Council and Board of Governors of the Federal Reserve met for their quarterly meeting in Washington D. C. This meeting was historically held in secrecy until Bloomberg News "won" a Freedom of Information Act request under the Freedom of Information Law requiring the Fed to make the meetings minutes available to the public. The Federal Advisory Council (FAC) is "composed of twelve representatives of the banking industry, consults with and advises the Board on all matters within the Board's jurisdiction..." according to the Federal Reserve in....
A representative of the US Federal Reserve spoke out about bitcoin today at a town hall meeting at North Dakota State University, Reuters reports. Addressing the audience, Minneapolis Federal Reserve Bank President Narayana Kocherlakota indicated he is interested in bitcoin's underlying technology, but not its use as a currency. Kocherlakota also responded to the suggestion that bitcoin could ever become a legitimate competitor to the US dollar, stating: "That's where I think the interest of it is, myself, as opposed to a new currency that's going to drive the US dollar out of....
August 26 is the long-awaited day for a critical shift in the crypto market price movements. At the end of today, the bears or the bulls will take over the market, although everyone hopes for a reversal of the bearish trend. Recall that the last announcement of inflation data didn’t push the market down. Instead, investors saw some price rallies. But from this week’s price movement, it’s evident that the recovery has subsided. Related Reading: Dogecoin Price Movement Thwarted By Sellers, What’s Next On Chart? But another movement might take place after the Federal Reserve....
Bitcoin closed above $20,000 on Wednesday for the first time in its lifetime, just as the Federal Reserve decided to preserve its dovish agenda for the coming years.
In a policy meeting on Wednesday, the U.S. Federal Reserve told the public that monetary easing will continue and the benchmark interest rate will be kept near zero. Just like previous statements from Federal Open Market Committee (FOMC) members, the committee within the central bank is not concerned about inflation and says that it should only have “transitory effects” on the American economy. Inflation to Have ‘Transitory Effects,’ While ‘Recovery Is Uneven and Far From Complete’ The most recent FOMC meeting held on Wednesday was no different than the....