Fed Chairman Claims ‘Now Is Not the Time’ to Worry About the Federal Budget
According to the Federal Reserve Chairman, Jerome Powell, the road to economic recovery is far from over and the Covid-19 pandemic has fueled the tragedy. During his speech at the National Association for Business Economics annual meeting, Powell highlighted that the federal budget was essentially a disaster, but stressed that “now is not the time to give priority to those concerns.” The Fed’s Chairman, Jerome Powell, doesn’t seem enthusiastic about the American economy after the central bank funneled $9 trillion into the hands of private trading houses. Powell....
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Federal Reserve Chairman Jerome Powell confirmed during a hearing before the House Financial Services Committee that he has no intention to ban or limit the use of cryptocurrencies. He also commented on the regulation of stablecoins. Powell Says ‘No Intention to Ban’ Crypto The chairman of the Board of Governors of the Federal Reserve System, Jerome Powell, talked about cryptocurrency, stablecoins, and central bank digital currencies (CBDC) during a hearing before the House Financial Services Committee Thursday. The main focus of the meeting, however, was the Federal....
There's A Virtual Currency Provision In The 2014 Federal Budget Implementation Act. Last Friday, Canada's new Minister of Finance Joe Oliver presented the first of two 2014 budget implementation bills to the House of Commons. The bill, that was tabled, was written by recently-resigned former Minister of Finance Jim Flaherty. Flaherty has previously revealed his negative view on Bitcoin in a speech about his 2014 budget implementation plans. As has become increasingly prevalent in the last few decades, the biannual budget implementation bill often becomes bloated with “unrelated measures”....
During Mulvaney’s speech to the John Birch Society chapter, the also praised Bitcoin for its ‘immutability”. Bitcoin enthusiasts are not the biggest fans of the Federal Reserve. Some people would even go as far as saying how the Fed is the cause of all evil in the US economy. One of the people sharing such strong sentiments is Mick Mulvaney, Donald Trump’s budget chief. Interestingly enough, he is also a founder of the Congressional Bitcoin Caucus. When appointing a new budget chief, the President-elect made a rather surprising choice. Up until that moment, very few considered Mick....
Former Federal Reserve chairman, Ben Bernanke, believes the technology behind Bitcoin is interesting, but threats from terrorists make it a problematic payment solution. Anonymity is a "bug," he claims. In an interview with Quartz, published November 19, Ben Bernanke opened up about Bitcoin. "It's interesting from a technological point of view. We're in a world where the payments system is evolving quickly and new approaches to managing payments are proliferating, and some of the ideas around bitcoin will no doubt be useful in doing that," the former Federal Reserve chairman stated. Read....
The new federal budget states that Bitcoin will fall under the “current tax treatment of digital currencies, including the capital gains tax treatment, where they are held as an investment.” The first federal budget under the Anthony Albanese led-government has outlined that Bitcoin (BTC) will continue to be treated as a digital asset, and not taxed like a foreign currency.This clarification comes in response to El Salvador’s adoption of BTC as legal tender in September last year, with the Australian government essentially ruling out a shift in classification despite it being used as a....