news

bitcoin

1 X bitcoin bitcoin =

Wednesday

12 May 2021

Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights 'Froth in Equity Markets' – Economics Bitcoin News

Fed Chair Jerome Powell Says Dogecoin and Gamestop Hype Highlights 'Froth in Equity Markets' – Economics Bitcoin News


smart summary beta

Powell said that the Federal Reserve aims to provide financial stability but notes there are some things in capital markets that are a bit frothy.

Powell discussed the benchmark interest rate and inflation, while he was also asked about digital currencies and things like Gamestop shares and the recent dogecoin (DOGE) rally.

At first, Powell was inundated with questions about inflation and one reporter stressed that some people believe “the Fed might let things get out of hand with the new policy stance.” The reporter asked the Fed Chair if the central bank will be able to get ahead of inflation before it gets well ahead of the 2% target.

And that’s because of our rule of law, our democratic institutions, which are the best in the world, our economy, our industrious people, all the things that make the United States the United States,” Powell said.

The journalist said that people are searching for “yield in this market” and he wondered if the Fed felt responsible for the current financial stability in America.

Powell responded and said that the financial stability the Fed provides is quite broad, and the central bank doesn’t jump on a certain issue and then move to the next.

Goto Full Article

bitcoin bitcoin price

$51373.00

24h

Live Average

bitcoin

News Article Sentiment

positive

Score (0)

Image

Why Fiat Experts Don’t Get Bitcoin
published: 52 minutes ago
There are various reasons traditional experts do not understand bitcoin and thus have negative views on it.

sentiment (-0.2) Negative

Article Metadata

author

site

bitcoin.com
Market data feeds provided by cryptocompare.com
bitsmart 2021