Crypto News 

Bitcoin can become a legit global currency — in theory, Goldman says

“For example, bitcoin exchange volumes surged in China after the country started clamping down on capital outflows in 2016” writes Akin Oyedele for businessinsider.com. Bitcoin can be a legitimate and widespread form of money but mostly in theory, for now, according to Goldman Sachs strategists.They noted that Korea and Japan dominate bitcoin exchange volumes, but are also countries with stable monetary systems.In that sense, there’s demand for bitcoin as a form of money to make transactions.That’s because the key functions of money that bitcoin can serve are already well handled…

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News Regulators 

Fed officials are scrambling to figure out how to fight the next recession

“Among that evidence is the low inflation rate itself, which reflects in part a lack of wage growth” writes Pedro Nicolaci Da for businessinsider.com. “Right now the FOMC is not discussing or considering its inflation target,” she said during her December press conference.Starkly absent from the debate was the other side of the Fed’s inflation mandate — full employment. Source: businessinsider.com Share This:

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News Regulators 

3 clues about Trump’s Fed nominee, Jerome Powell

“The Fed releases the transcripts on a five-year lag to relieve its officials from feeling pressured to guard their language while debating monetary policy” writes Joseph Lawler for washingtonexaminer.com. Federal Reserve transcripts released Friday for its monetary policy meetings in 2012 provide the first public glimpse of Trump nominee Jerome Powell’s candid opinions about the management of the nation’s money supply.In discussing monetary policy, he cited anecdotes from executives, rather than academics, workers, union officials, or other groups, in explaining his view of the economy. Source: washingtonexaminer.com Share This:

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News Regulators 

Fed members debated how much tax cuts would boost economy at December meeting

“They expressed uncertainty about how much consumers and businesses would respond to the tax cuts, according to the minutes” writes Joseph Lawler for washingtonexaminer.com. At a press conference following the meeting in December, Yellen suggested that the tax cuts wouldn’t do much to alter the Fed’s plans for monetary policy.Chairwoman Janet Yellen and other Fed officials anticipated “a modest boost from the expected passage of the tax legislation under consideration,” according to the minutes of the monetary policy meeting.Nevertheless, the officials weren’t sure about how much the tax plan would…

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Markets News Stocks 

Stocks cheer $9 trillion year, downer for the dollar

“The dollar even backtracked on the yen despite the Bank of Japan staying doggedly committed to its super-easy monetary policy” reports foxbusiness.com. As of Friday, the dollar was down 3.5 percent for the year at 112.74 yen.Hong Kong surged 36 percent, South Korea notched up 22 percent and India and Poland  both made 27 percent in local currency terms. Source: foxbusiness.com Share This:

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News 

Jerome Powell won’t mess up the strong economy he’s been dealt

“This week, the Federal Reserve will likely have its last monetary policy meeting with both Jerome Powell and Janet Yellen in the building” writes Peter Morici for marketwatch.com. With or without a tax cut, the economy offers no reason for haste.However, of all those, only a tax cut is likely in the near term.As for monetary policy, Gov.For the first time since 2004, the economy is on the verge of registering three consecutive quarters of 3% or better growth. Source: marketwatch.com Share This:

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Crypto News 

PlusCoin Team, Crypto Leaders: Cryptocurrency is the Monetary Unit of the Future

“It comes in the form of a mobile application into which the PlusCoin cryptocurrency is integrated” writes unknown author for cryptocoinsnews.com. About DS Plus and PlusCoin DS Plus is a platform that provides users with a crypto-cashback service.However, people should expect that sooner or later, the list of the many digital monetary units that exist shall narrow down to leave the strongest currencies as the only choices users can have.Vitalik Buterin, one of the founders of the second-biggest cryptocurrency which is Etheruem, affirms the surfacing of a lot more units…

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News 

The 2018 Outlook for Major Central Banks

“With the ongoing synchronized pick-up in global growth, systemically important central banks will likely be more willing and able in 2018 to start and, in one case continue, the normalization of monetary policy” writes unknown author for bloomberg.com. The biggest risk to asset prices and the global economy would be if the biggest institutions reduce their monetary stimulus at the same time.But this does not translate automatically into a clear path when it comes to the risk of what would, in scenario analyses, turn out to be a central bank…

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News 

Canadian dollar falls after dovish Bank of Canada comments

“The Canadian dollar turned lower after the Bank of Canada’s decision to leave interest rates unchanged, which was in line with expectations” writes Anneken Tappe for marketwatch.com. Traders looking for hawkish language in the central bank’s announcement were disappointed with words of caution.While the BOC statement mentioned moderate Canadian growth and slightly higher than anticipated inflation, it also said that while higher interest rates will be necessary at some point, the BOC will remains cautious for now.”Based on the outlook for inflation and the evolution of the risks and uncertainties…

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