Jerome Powell news

Jerome Powell is the 16th and current Chairman of the Federal Reserve, serving in that office since February 2018.

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Jerome Powell Says the Federal Deficit Is “Unsustainable” Even as Fed Policy Stokes Record Surge in Household BorrowingJerome Powell Says the Federal Deficit Is “Unsustainable” Even as Fed Policy Stokes Record Surge in Household Borrowing

Fed Chair Jerome Powell sounds the alarm on U.S. federal debt. The federal deficit is forecast to swell to $1.1 trillion. U.S. household debt reached a new record high in the third quarter. Jerome Powell has presided over three interest rate cuts as Federal Reserve Chairman, but now believes debt is a problem. Of course, […] The post Jerome Powell Says the Federal Deficit Is “Unsustainable” Even as Fed Policy Stokes Record Surge in Household Borrowing appeared first on CCN.com Testifying before Congress on Wednesday, Fed Chair Jerome Powell said the federal deficit is on an "unsustainable path."
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Trump Buries Fed Chair Jerome Powell After ‘Gutless’ Policy Decision

The Federal Reserve’s quarter-point rate cut on Wednesday was met with hostility by President Trump, who blasted Chairman Jerome Powell for lacking vision and being totally ‘gutless’ about helping the American economy. Trump Ups Anti-Fed Rhetoric Trump took to Twitter Wednesday afternoon to complain about the Fed’s decision to lower interest rates. Based on Trump’s […] The post Trump Buries Fed Chair Jerome Powell After ‘Gutless’ Policy Decision appeared first on CCN.com
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Facebook’s Libra could become ‘systematically important very quickly,’ claims Fed Chair Jerome Powell

2019 has been an incredibly important year for digital currencies. The collective cryptocurrency market broke away from the bearish winter and digital assets have again started to gain attention from various financial institutions and personalities. In fact, the President of the United States also called out Bitcoin and Facebook’s Libra at one point of time, […] The post Facebook’s Libra could become ‘systematically important very quickly,’ claims Fed Chair Jerome Powell appeared first on AMBCrypto.
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Fed Chair Jerome Powell Says Facebook’s Libra Needs Higher Regulation

Jerome Powell, the chairman of the US Federal Reserve said that Facebook’s new cryptocurrency Libra will have to adhere to higher regulatory standards. He said that not doing so would disrupt the financial system of the country. Facebook needs enhanced regulations Powell was attending a QnA session in Zurich, Switzerland on Friday where he focused on Facebook’s digital currency Libra and its corresponding digital wallet Calibra. Regulators around the world have been worried about the impact of the new cryptocurrency on the existing financial systems. Powell has previously spoken about his discomfort with the cryptocurrency. Yesterday, he said, “With Facebook’s very large network of more than a billion people, a stable coin could be systemically important very quickly if it were to have wide adoption. Libra would have to be held to the highest regulatory standards and supervisory expectations.” He also said that “Libra has a burden of proof to carry.”  Interestingly, Libra will be managed by the Libra Foundation, which will be based in Switzerland. Recently, a delegation of US lawmakers led by Maxine Waters met Swiss authorities to discuss the digital coin. They continued to hold a skeptical view of the cryptocurrency even after the meeting. Why is Facebook’s crypto so important? Facebook is the largest social network in the world, with over 2 billion global user base. Apart from this, it controls Instagram, another popular image-based social networking platform and WhatsApp, a messaging service. With such a huge network of apps and an increasing influence of Facebook on people around the globe, a cryptocurrency would be enough to topple the global financial system. Note that Facebook’s digital currency will be used to send money cross-border as well. As such, the company will not follow the anti-money laundering (AML) and terrorism financing laws that traditional financial institutions are made to follow. Powell clarified that the US central bank doesn’t want to block innovation, but it wants to ensure that it is done responsibly. During two hearings at Capitol Hill in July this year, Facebook executives said that the US needs blockchain-based financial innovation to stay ahead of the curve. If the country fails to do so, countries like China will gain a lead. The company also said that it announced the currency one year before its official launch so it could work with regulators. It also said that it would launch the currency only after regulators are convinced. Interestingly, the country will have a lot of regulators to talk to, given its global impact and overall negative reaction from authorities. The post Fed Chair Jerome Powell Says Facebook’s Libra Needs Higher Regulation appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
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Blockchain Startup SpaceChain Sends Wallet Tech to International Space Station

Blockchain Startup SpaceChain Sends Wallet Tech to International Space Station Space-as-a-service-focused blockchain startup SpaceChain has sent its hardware wallet technology to the International Space Station (ISS). As part of the CRS-19 commercial resupply service mission, a SpaceX Falcon 9 rocket is delivering SpaceChain’s hardware wallet technology to the ISS, according to a Dec. 6 press […] Cet article Blockchain Startup SpaceChain Sends Wallet Tech to International Space Station est apparu en premier sur Bitcoin Central.
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Brave Browser (BAT) Now Has over 10 Million Monthly Active Users

Brave Browser (BAT), a privacy-protecting internet browser that’s focused on giving the masses absolute control over online activities, while also rewarding them with Basic Attention Token (BAT), has announced that the browser has seen more than 10 million monthly active users (MAU) since launching Brave 1.0 in November 2019, according to a blog post onRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Komodo’s AtomicDEX Exchange Runs a P2P Full Node in Your Web Browser

Komodo’s AtomicDEX Exchange Runs a P2P Full Node in Your Web Browser The developers of multi-chain architecture project Komodo claim that it has created an implementation of its AtomicDEX that runs a full peer-to-peer (P2P) node in the user’s web browser. Komodo developers wrote in a press release shared with Cointelegraph on Dec. 5 that […] Cet article Komodo’s AtomicDEX Exchange Runs a P2P Full Node in Your Web Browser est apparu en premier sur Bitcoin Central.
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