Powell, Low unemployment and inflation moderation to achieve real interest rates, cryptocurrency is considering a positive direction
Federal Reserve Chairman Jerome Powell attended the DealBook Summit hosted by the New York Times and said, ‘The unemployment rate in the United States is still very low and inflation is also progressing to some extent. It will take some time, but the Fed is trying to lower interest rates to a neutral level.’ He said at the DealBook Summit hosted by the New York Times, ‘I disagree with the view that Bitcoin is a lack of faith in the dollar. Bitcoin is a speculative asset like gold, similar to digital gold.’ We expect to be able to do more with tokens that we haven't been able to do. We're talking more about smaller tokens and memecoins.’
Powell: ‘Bitcoin is a speculative When asked about his opinion on Bitcoin reserves, he said, ‘I think about what role cryptocurrencies should play in the banking system. However, we are not responsible for regulating cryptocurrencies and we are not playing any role in this area.’ Powell said. ‘We are considering the role that cryptocurrencies should play in the banking system. However, we are not responsible for regulating cryptocurrencies and we are not playing any role in this area.’ In addition, he explained that he ‘currently does not have the authority to own cryptocurrency’ when asked by a panelist if he owned cryptocurrency.
Meanwhile, the US Federal Reserve (Fed) released the Beige Book, a report on the economic conditions of 12 regions under its jurisdiction, revealing that economic activity was flat or slightly up in three of the 12 regions covered by the Federal Reserve Bank (Fed) in the US, while economic activity was flat or slightly down in two regions. The Fed said, ‘Employment levels have remained flat or risen slightly across all 12 regions. Although worker turnover was low and hiring by companies slowed, the level of layoffs was also low. The majority of the forecasts expect employment to remain stable or increase slightly next year. The Beige Book is an economic trend report that collects recent economic trends by contacting banks, companies, and experts in each region covered by the 12 Federal Reserve Banks in the United States.
