Federal Reserve

Fed glitch shuts down wire transfers, direct deposits, other services

Enlarge / The Federal Reserve Building in Washington, DC. Rudy Sulgan / Getty Images Federal Reserve electronic systems that enable US banks to send each other electronic payments experienced a massive outage on Wednesday afternoon. A Fed statement attributed the outage to an “operational error” but didn’t provide much more detail. The Federal Reserve System …

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The Fed Is Carefully Examining Digital Dollar — Chairman Jerome Powell Says ‘Very High Priority Project for Us’

<div class=”featured_image_container”> </div> <strong>Federal Reserve Chairman Jerome Powell has provided an update on the progress of a digital dollar. He confirmed that it is a “very high priority project” for the Fed, and agrees with U.S. Treasury Secretary Janet Yellen on the benefits of issuing a digital dollar.</strong> The Fed Is Looking Carefully at a …

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Federal Reserve Appoints Pro-Bitcoin Chief Innovation Officer

<div class=”featured_image_container”> </div> <strong>A pro-bitcoin head of digital assets from TD Ameritrade has been appointed as the Federal Reserve System’s chief innovation officer. This is “a new role in which she will lead efforts to identify, research, enable and advocate for new technologies,” the Fed explained.</strong> The Fed’s New Chief Innovation Officer Is Pro-Bitcoin The …

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Bitcoin prints biggest hourly candle in history after BTC rebounds strongly to $54K

Bitcoin (BTC) fell below $50,000 on Feb. 22 as a correction gathered pace at Wall Street’s opening to deliver 20% daily losses prior to a strong response from the bulls.  BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview Bitcoin loses $6,000 in minutes Data from Cointelegraph Markets and TradingView shows BTC/USD falling heavily during Monday trading, hitting …

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Federal Reserve Bank President James Bullard Confident Bitcoin Not a Threat to US Dollar

<div class=”featured_image_container”> </div> <strong>The president of the Federal Reserve Bank of St. Louis, James Bullard, has shared his view on the future of bitcoin. He is confident that the cryptocurrency poses no threat to the U.S. dollar. Referencing the unpopularity of various versions of dollars issued before the Civil War by banks, Bullard predicts the …

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As Millions Drown in Today’s Poverty Trap, Macro Strategist Raoul Pal Says ‘Bitcoin Is a Life Raft’

<div class=”featured_image_container”> </div> <strong>Global Macro Investor CEO, Raoul Pal, discussed the current economy this week and asked his 394,000 followers if people are using the wrong denominator when it comes to certain economic factors. One thing’s for certain, wages have not increased, no matter the common denominator people use to measure today’s salaries. Pal wholeheartedly …

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Bitcoin and Inflation: Everything You Need to Know

Crypto enthusiasts often talk about bitcoin as a hedge against inflation. Why? The argument is that central bank money printing will lead to inflation or the decrease in the value of money over time. Bitcoin, by contrast, has a fixed limit of 21 million coins that can ever be created. This limited supply allows bitcoin …

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Fed Chair Powell: ‘We’d Welcome Higher Inflation’

U.S. Federal Reserve officials voted Wednesday to keep monetary conditions at historically loose levels while waiting for the economy to heal. Chairman Jerome Powell said he doesn’t want to put a timeline on tapering the U.S. central bank’s $120 billion-a-month in asset purchases. “In terms of tapering it’s just premature,” Powell said. “We said we’d …

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How Bitcoiners Should Watch the US Federal Reserve Meeting on Wednesday

It’s the debate the Federal Reserve isn’t ready to have yet: How to keep inflation from spiraling out of control once the economy opens back up.  Considering the devastating toll from the coronavirus and the trillions of dollars of stimulus pumped into the financial system over the past year, top economists say the looming transition …

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Bitcoin ‘Going Through the Roof’ Unlike Assets Controlled by Government, Says Former Fed Governor

<div class=”featured_image_container”> </div> <strong>Former Federal Reserve Governor Kevin Warsh is bullish on bitcoin. He sees all assets that are not controlled by the U.S. government “going through the roof,” unlike those the Fed purports to control. He has outlined three reasons why bitcoin makes sense to him.</strong> Why Former Fed Governor Is Bullish on Bitcoin …

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