Archive for July 2022
Federal Reserve Chair Jerome Powell Says U.S. Government Looking into Own Digital Currency
Federal Reserve Chair Jerome Powell said Thursday that the government is exploring the possibility of issuing a new type of digital currency amid the rise of cryptocurrencies. Powell said that the Federal Reserve would be publishing a discussion paper sometime during the summer of 2021 that would focus on the possible creation of a central…
Read MorePowell Says Recession ‘Certainly a Possibility’ as Fed Is Determined to Hike Rates to Tame Inflation
Federal Reserve Chair Jerome Powell testified in Congress on June 22 that the central bank remains determined to keep hiking interest rates high enough to cool the red-hot inflation, acknowledging that recession is “certainly a possibility” but insisting the American economy is robust enough to withstand tighter financial conditions. With decades-high inflation running “well above” the Fed’s longer-run target…
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