RATE Group | Fed Chair Jay Powell grilled on China’s cryptocurrency plans, US response
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Fed Chair Jay Powell grilled on China’s cryptocurrency plans, US response

12 Feb Fed Chair Jay Powell grilled on China’s cryptocurrency plans, US response

Posted at 02:35h in Cryptocurrency News by

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On Tuesday, Federal Reserve Chairman Jerome Powell gave his monetary policy report in front of the U.S. House Financial Services Committee, and then withstood hours of questions from members of Congress.

Rep. Bill Foster, a Democrat from Illinois, spent his entire five minutes asking Powell about cryptocurrency.

That line of questioning yielded some perspective from Powell that the Fed chair not previously given, and his responses could stoke optimism or disappointment from many in the cryptocurrency world, depending on how they want to parse his typically very deliberate word choice.

So, what did we learn about Powell and crypto?

Federal Reserve Chairman Jerome Powell testifies before the House Committee on Financial Services, on Capitol Hill, Tuesday, Feb.11, 2020 in Washington. (AP Photo/Alex Brandon)

Cautious on a Fedcoin

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