Federal Reserve


Policy

Sen. Lummis Likely to Oppose Powell’s Fed Nomination on Crypto Grounds

The Wyoming senator is likely to vote against President Biden’s nominees to head the U.S. Federal Reserve, and will rally other senators against them, said a Lummis aide.

Sen. Cynthia Lummis helped draft an amendment to a controversial tax provision in the infrastructure bill.

Markets

Bitcoin Turns Lower as Fed Chair Suggests Inflation No Longer ‘Transitory’

Federal Reserve Chair Jerome Powell’s turnabout suggests the U.S. central bank might move more quickly to tighten monetary policy – potentially a negative for speculative assets including bitcoin.

Federal Reserve Chair Jerome Powell testifies Tuesday before the U.S. Senate Banking Committee. (C-Span)

Policy

Yellen Says Stablecoins Require Proper Regulations

The Treasury Secretary also said she agreed with current Financial Crimes Enforcement Network (FinCEN) guidance that crypto firms and providers that don’t custody customer funds should not be regulated.

Capitol building (Shutterstock)

Policy

NY Fed Launches Fintech Research Wing With BIS Help

The NYIC will be led by PwC alum Per von Zelowitz, who joined the New York Fed in July.

Fed Chair Jerome Powell (Samuel Corum/Bloomberg via Getty Images)

Videos

Bitcoin Tops $58K With Focus on Omicron and Fed’s Powell Speech

Are bitcoin’s immediate prospects tied to the Omicron variant’s potential impact on the Fed’s monetary policy? GlobalBlock CEO Rufus Round discusses what to make of bitcoin’s recent price swings. The cryptocurrency is trading near $57,300 at press time, representing a 7.3% gain compared to the low of $53,359 late Sunday.

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Markets

Bitcoin Tops $58K With Focus on Omicron and Fed’s Powell Speech

Bitcoin is largely being grouped with other risk assets at the moment, one observer said.

Gráfico por horas de la cotización de bitcoin el 29 de noviembre (TradingView)

Markets

Goldman Says Fed May Accelerate Tapering in January: Report

The new projection means the asset purchase program would end in March.

Federal Reserve building (Paul Brady Photography/Shutterstock)

Markets

Bitcoin Slips to $55K as Renewed COVID Concerns Jolt Traditional Markets

The cryptocurrency appeared set for a breakout above $60,000 after Thursday’s rise, but COVID fears played spoilsport.

Bitcoin drops below $58,000 on Nov. 26 amid growing covid fears (CoinDesk, highcharts.com)

Videos

Is There a Bullish Breakout Ahead for Bitcoin?

Needham & Co. Vice President John Todaro discusses his positive assessment of the crypto markets despite continuing to see red over the past week. “We’re still ​in a bullish macro set up here for bitcoin and cryptocurrencies more broadly,” Todaro said. “We do have around $100K bitcoin [price target] in Q1 2022.”

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Policy

US Regulators Plan to Define Legal Bank Activities Around Crypto in 2022

The interagency sprint team was composed of the OCC, FDIC and Fed.

OCC (Andrew Harrer/Bloomberg via Getty Images)