Crypto News Regulators 

Janet Yellen says bitcoin is a highly speculative asset — but the Fed played a key role in its rise

“She said bitcoin ” is a highly speculative asset” that “at this time plays a very small role in the payment system.”” writes Pedro Nicolaci Da for businessinsider.com. Yet for better or worse, the Federal Reserve has played an important, two-part role in the emergence of the bitcoin phenomenon.If you have a million bucks in bitcoin trying to do it in an exchange you’re going to crash the price,” Chorzempa said.”It looks less like a currency every day because the price is just skyrocketing like a speculative asset,” he told…

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Bitcoin buyers: ‘Be ready to lose all your money,’ UK regulator says

“You can’t go somewhere and look up the record of who owns bitcoin,” Bailey said” writes Jade Scipioni for foxbusiness.com. Bailey said that relatively little was known about what drives the price of bitcoin, adding that another red flag is the fact the bitcoin buyers and sellers are anonymous, something that has caused concerns that it could be used to launder money.I’m going to put my pension into bitcoin’ – I would be very concerned but we don’t see that at the moment.”. Federal Reserve chair Janet Yellen also weighed…

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Bitcoin is a “Highly Speculative Asset”, Says Federal Reserve’s Yellen

“Speaking at the Federal Reserve Annual Meeting this year, a three-day event attended by representatives from over 90 central banks, Yellen encouraged her counterparts to study blockchain technology” writes unknown author for cryptocoinsnews.com. 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 the subject of bitcoin came up.As reported by CCN in early 2014, Yellen underlined bitcoin…

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Yellen paves way for Powell in final press briefing

“The Federal Reserve raised interest rates by a quarter-point today, meeting expectations of most economists” reports foxbusiness.com. U.S. stocks remained higher following the decision. FOX Business will be LIVE blogging all the highlights from Yellen’s press briefing, in which she expected to address more than just the future direction of interest rates. Source: foxbusiness.com Share This:

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Crypto Markets News Regulators 

Janet Yellen: Bitcoin is a ‘highly speculative asset’

“Outgoing Federal Reserve Board Chair Janet Yellen said Wednesday that bitcoin is a “highly speculative asset,” and downplayed its supposed role as a currency” writes Pete Kasperowicz for washingtonexaminer.com. On the stock market, Yellen noted that the Fed has said in recent months that valuations are “elevated” and “on the high end” of the historical range.However, she said the Fed has no policy related to bitcoin and has not offered any specific guidance to banks on the new, rising asset. Source: washingtonexaminer.com Share This:

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YELLEN: Bitcoin is a ‘highly speculative asset’

“Yellen noted that bitcoin is “a highly speculative asset.”” writes Jonathan Garber for businessinsider.com. In the press conference accompanying the decision, Fed Chair Janet Yellen as asked about bitcoin by CNBC’s Steve Liesman. The Federal Open Market Committee meets on January 30-31, but there’s no press conference scheduled at the conclusion of that meeting.When asked if the Fed was considering its own digital currency, Yellen suggested there had been some discussions about the topic. Source: businessinsider.com Share This:

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Fed lifts interest rates but sticks to go-slow approach as Yellen era nears end

“Stocks keep hitting record highs, for instance, and interest rates remain quite low despite the five Fed rate hikes since late 2015” writes Senior Economics Reporter for marketwatch.com. Many economists said there needs to be more evidence of price pressures to cajole the Fed to raise rates more aggressively in 2018.The central bank can afford to cling to a go-slow strategy because of surprisingly low inflation.Fed governor Jerome Powell will take over the helm of the central bank from Yellen in early February.Two senior officials, Minneapolis Fed President Neel Kashkari…

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Dollar drops as Fed raises rates, leaving 2018 forecast unchanged

“Follow live: Fed decision and Janet Yellen press conference” writes Anneken Tappe for marketwatch.com. The U.S. dollar dropped against its major rivals after the Federal Reserve hiked interest rates by 25 basis points on Wednesday and left its forecast for future rate hikes and inflation unchanged.A news conference, which will be the last of current chairwoman Janet Yellen before she hands over the reins to Jerome Powell, will follow at 2.30 p.m.The rate hike had been much anticipated by traders and was priced almost entirely into Fed funds futures, which…

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Dollar adds to losses after CPI report; Investors await Fed decision

“Then, the November inflation report showed a slowing of core consumer price growth, which exclude volatile items such as gasoline, while headline inflation was in line with forecasts” writes Markets Reporter for marketwatch.com. Traders were also looking ahead to the Federal Reserve decision later in the day at 2 p.m.Down under, the Australian and New Zealand dollar are also stronger on the back of the falling greenback. Source: marketwatch.com Share This:

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The Fed and Interest Rates: What to Watch For Today

“By raising interest rates, the Fed is gradually reducing the magnitude of that stimulus” writes Binyamin Appelbaum for nytimes.com. If Wednesday’s decision to raise interest rates is not unanimous, the concern about inflation is the most likely reason.But some Fed officials are concerned the Fed itself is contributing to the weakness of inflation.Fed officials are wary of injecting the central bank’s views into the final stages of the political debate about tax cuts.Goldman also expects the Fed will raise rates three times in 2019, one more than the Fed’s September…

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