Posts in category

federal reserve


The St. Louis division of the U.S. Federal Reserve Bank is now tracking the prices of four cryptocurrencies in its research database. According to an announcement on Tuesday, Federal Reserve Economic Data (FRED), an extensive database maintained by the central bank’s St. Louis branch, is now offering data points for bitcoin, bitcoin cash, ethereum and …

0 36

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Whether bitcoin or its imitators eventually achieve global ubiquity, they have already achieved success in one …

0 36

Researchers from the U.S. Federal Reserve Bank’s San Francisco division believe that the launch of bitcoin futures on several marketplaces in the U.S. last December played a role in a subsequent slump in the cryptocurrency’s price. According to a research paper published on Monday, the authors  – including three researchers from the Federal Reserve Bank …

0 40

A bipartisan movement of US lawmakers are considering forming new legislation to regulate cryptocurrencies, prompted by the increasing interest – and therefore risk – in cryptocurrency worldwide, according to Reuters. There is currently no singular body in charge of overseeing cryptocurrencies in the US– the responsibility is instead divided between individual states, the US Securities and …

0 41

The Federal Reserve Bank of New York published an interview on their site Friday, Feb. 9, in which two of its economists explain cryptocurrency, highlighting crypto’s “trustless” nature, but expressing doubt that cryptocurrency could ever “realistically compete with current payment methods.” Michael Lee and Antoine Martin, both economists in the New York Fed’s Research and …

0 40

This is an entry in CoinDesk’s Most Influential in Blockchain 2017 series. He might never spend a summer in D.C. again, but he made this one count. In an exclusive video interview, CoinDesk recaps the July day when an anonymous bitcoiner scratched his manifesto on a legal pad, stuck his finger in the eye of the powers …

0 40

This is an entry in CoinDesk’s Most Influential in Blockchain 2017 series. “If I talk like this, am I loud enough to be heard?” It’s an ironic statement from a man who became famous without saying anything at all. Steps from San Francisco’s gleaming City Hall, the internet sensation better known as “Bitcoin Sign Guy” …

0 41

JP Koning is an avid blogger covering monetary economics and the history of money on his blog Moneyness.  The following article is an exclusive contribution to CoinDesk’s 2017 in Review. Central banks may be the 800-pound gorillas of the financial universe, but they have largely kept their hands off of bitcoin and other cryptocurrencies, preferring to monitor developments …

0 36

The outgoing US Federal Reserve (the Fed) chair, Janet Yellen, commented on Bitcoin and the Fed’s relationship to the digital currency at a press conference in Washington on Wednesday. During the meeting, Yellen addressed three areas relating to cryptocurrency — speculation, regulation and government-issued digital currencies. On the nature of Bitcoin, she commented that though the …

0 36

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. In her final press conference as Fed Reserve Chair, Janet Yellen called bitcoin “a highly speculative asset” that “doesn’t constitute legal tender.” Yellen was speaking to reporters in her final presser on Wednesday (her term comes to an end in February) when …

0 38

Federal Reserve chair Janet Yellen called bitcoin a “highly speculative asset” that isn’t subject to regulation by the U.S. central bank during her final press conference today. Yellen, whose term in office expires in February, spoke to reporters today on a range of topics. About thirty minutes into the presser, Yellen was asked about bitcoin. …

0 36

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. If you were awake in your college economics class you might recall Milton Friedman’s classic theory: The quantity theory of money.  Essentially, Friedman argued that the general price level is directly proportional to the amount of money in circulation  We can apply …

0 40

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Former Federal Reserve Chairman Alan Greenspan said that bitcoin bears many similarities to the Continental dollars that the American Congress printed during the War for Independence to finance the war against Great Britain. Greenspan, who chaired the Fed from 1987 to 2006, …

0 36

The former chairman of the U.S. Federal Reserve, Alan Greenspan, has joined the many financial luminaries to recently criticize bitcoin’s value. Speaking to CNBC, Greenspan compared bitcoin to that of an early American form of money called “Continental currency” that came into use in 1775 and had become worthless by 1782. The paper-based legal tender was used …

0 36

The former chairman of the U.S. Federal Reserve, Alan Greenspan, has joined the many financial luminaries to recently criticize bitcoin’s value. Speaking to CNBC, Greenspan compared bitcoin to that of an early American form of money called “Continental currency” that came into use in 1775 and had become worthless by 1782. The paper-based legal tender was used …

0 36

As Bitcoin destroyed the $12,000 level earlier today, many pundits and analysts looked for answers for why. The solution may not be in anything about the cryptocurrency, but more about the newest nominee to the Federal Reserve (Fed), Marvin Goodfriend. Goodfriend has been hailed both as a visionary and as the ‘worst Fed nominee of …

0 38

San Francisco Federal Reserve (Fed) President John Williams has claimed that there is no official plan by the Fed to issue a digital currency anytime soon. However, he did announce an ongoing study on the possibility of doing so in the future. During a question-and-answer session following his speech in Phoenix, in late November 2017, …

0 36

In a speech during the Financial Stability and Fintech Conference, Vice Chairman of Supervision, Randal K. Quarles made it clear that the Federal Reserve’s (Fed) position on cryptocurrencies is one of extreme caution. Instead, Quarles suggests that the government partner with current banking systems to create solutions in response to the digital payment wave. The warning came as …

0 36

Digital currencies may pose a threat to financial stability as they gain popularity, said U.S. Federal Reserve vice chairman for supervision Randal Quarles. Speaking at the 2017 Financial Stability and Fintech Conference on Thursday, Quarles warned against the rise of cryptocurrencies, saying private decentralized currencies could have “spillover effects” on the broader financial system if they …

0 36

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Jim Cunha, senior vice president of the Federal Reserve Bank of Boston, thinks distributed ledger technology (DLT) will have major implications on the U.S. payment system, in addition to financial regulations and cybersecurity. The Boston Fed posted Cunha’s comments on its website. …

0 39