Cryptocurrency traders slapped the buy button on bitcoin during the Federal Reserve’s non-announcement announcement, but the run-up didn’t last.
Federal Reserve officials see U.S. inflation as likely to stay below 2% over the next three years, based on a new summary of economic predictions released Wednesday by the central bank.
The Fed may remain intransigent about negative rates, but bitcoin may benefit from other central bankers who are keeping the option firmly on the table.
Even as Fed Chair Jerome Powell says negative interest rates are not on the cards, the remaining possibility might be rekindling traders' spirits – or at least refocusing attention on bitcoin as a hedge against inflation.
Bitcoin is hovering close to $9,000 amid rising speculation the U.S. could ultimately adopt negative interest rates.
Some Americans are still waiting for stimulus support. Would a digital dollar have helped disburse funds? Here's a breakdown of the debate.
Arming the Federal Reserve with a digital dollar would harm the free market, says Max Raskin, an NYU adjunct professor of law.
"It's clear that the effects on the economy are severe," said Federal Reserve Chair Jerome Powell. "We won't run out of money. It's an unlimited pot."
Money printer goes brrr, but does it necessarily mean big inflation?
Bitcoin and ether fell slightly Thursday as traditional markets climbed on additional stimulus measures by the U.S. Federal Reserve and Bank of England.
U.S. currency in circulation has experienced its largest increase in over 20 years.
Seismic shifts might be in the offing for the global monetary system — a phenomenon that historically has occurred in the wake of world wars.
How would a bitcoin economy react to coronavirus? For now, we don’t know. However, we can turn to a proxy for insight: gold.
Drastic measures are being taken by the Federal Reserve as Wall Street reels from fresh predictions of a steep drop-off in economic output due to coronavirus-related lockdowns, business disruptions and job losses.
The Federal Reserve has announced a quantitative easing package with no upper limit to support the U.S. economy amid the coronavirus crisis.