• The Fed is looking carefully at issuing a digital dollar, Chairman Jerome Powell tells Congress

    12 days ago - By Business Insider

    Sarah Silbiger/Getty Images
    Federal Reserve Chairman Jerome Powell told Congress on Tuesday that it is looking carefully at issuing a digital US dollar. Powell called the potential digital dollar a "high priority" project, according to the testimony. The potential issuance of a digital dollar would come amid a surge in cryptocurrencies like bitcoin, which briefly surpassed $1 trillion in market value last week. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Federal Reserve Chairman Jerome Powell told Congress on Tuesday that the Fed is "looking carefully" at...
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  • The Fed is looking carefully at issuing a digital dollar, Chairman Jerome Powell tells Congress

    The Fed is looking carefully at issuing a digital dollar, Chairman Jerome Powell tells Congress

    12 days ago - By Business Insider

    Summary List Placement
    Federal Reserve Chairman Jerome Powell told Congress on Tuesday that it is looking carefully at issuing a digital US dollar.
    Powell called the potential digital dollar a "high priority" project, according to the testimony.
    The potential issuance of a digital dollar would come amid a surge in cryptocurrencies like bitcoin, which briefly surpassed $1 trillion in market value last week.
    Sign up here for our daily newsletter, 10 Things Before the Opening Bell
    Federal Reserve Chairman Jerome Powell told Congress on Tuesday that the Fed is "looking carefully" at whether it...
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  • Fed's Powell: US economic recovery is uneven and incomplete

    12 days ago - By Chron

    WASHINGTON - Federal Reserve Chair Jerome Powell underscored the U.S. economy's ongoing weakness Tuesday in remarks that suggested that the Fed sees no need to alter its ultra-low interest rate policies anytime soon.
    “The economic recovery remains uneven and far from complete, and the path ahead is highly uncertain,” Powell said in written testimony to the Senate Banking Committee.
    Powell's comments are in contrast to the increasing optimism among many analysts that the economy will grow rapidly later this year. That outlook has also raised concerns, though, about a potential surge in...
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  • Fed Chair Powell: Semiannual Monetary Policy Report to the Congress

    Fed Chair Powell: Semiannual Monetary Policy Report to the Congress

    12 days ago - By Calculated Risk

    From Fed Chair Jerome Powell: Monetary Policy Report - February 2021. A few excerpts:
    The initial wave of COVID-19 infections led to a historic contraction in economic activity as a result of both mandatory restrictions and voluntary changes in behavior by households and businesses. The level of gross domestic product fell a cumulative 10 percent over the first half of 2020, and the measured unemployment rate spiked to a post-World War II high of 14.8 percent in April. As mandatory restrictions were subsequently relaxed and households and firms adapted to pandemic conditions, many sectors...
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