While Bitcoin exceeded 97 thousand dollars, Fed member Kashkari made an unusual statement about cryptocurrencies. After Trump took office, all institutions began to change their perspective on cryptocurrencies, and the Fed also made some relaxations in its field. But Kashkari says things against him that could perhaps be interpreted as being linked to his anti-Trump sentiment.
Fed Cryptocurrency Statement
At the time of writing Fed member Kashkari is making statements and we mentioned the speech he will give in today’s calendar. Trump’s statements will be made at 22:00. However, the most important Fed statement of the day will be made by NY Fed President Williams at 22:10. If you remember, the previous interest rate cut was made possible with his supportive statements.
A few seconds ago, Kashkari’s statements ended and he said the following;
“cryptocurrencyis basically useless to consumers.
Powell explained the issue correctly. Economy Confusingly, the job market is showing signs of weakening. Inflation is still very high but is moving in the right direction. Overall, the economy looks pretty resilient. The economy did not slow down as much as expected. There is a K-shaped economy. I wonder how tight monetary policy actually is. I found that the impact of tariffs was less than expected.
The tariffs were not as big a hit as many feared, but the long-term story remains. The 2% inflation target remains and we are determined to reach this level. The Fed’s current balance sheet expansion is not quantitative easing. My expectation for the economy is quite good growth, I do not think there is a need for monetary expansion by the Fed. “The use of artificial intelligence in businesses is currently in the experimental phase and does not yet lead to layoffs.”
BTC Its statements continue to remain recklessly above $97,000.
