RATE Group | St. Louis Fed Chief James Bullard Agrees Crypto Is Disrupting Economy
55027
post-template-default,single,single-post,postid-55027,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

St. Louis Fed Chief James Bullard Agrees Crypto Is Disrupting Economy

20 Jul St. Louis Fed Chief James Bullard Agrees Crypto Is Disrupting Economy

Posted at 09:32h in Cryptocurrency News by

[ad_1]

 
Central bankers have a lot to say about bitcoin. Federal Reserve Bank of St. Louis President and CEO James Bullard acknowledges that cryptocurrencies are a disruptive force to the economy. Like his boss, Fed Chairman Jerome Powell, Bullard also appears to worry that cryptocurrencies are a menace to the financial system for a couple of reasons. He believes that crypto paves the way for crime, and he is focused on the fact that bitcoin is accompanied by high volatility. Bullard stated:

“Cryptocurrencies may unwittingly be pushing in the wrong direction in trying to solve an important social problem, which is how best to facilitate market-based exchange.”

Bullard issues a reminder that cryptocurrencies aren’t the first competition that fiat money has seen, pointing to the…

[ad_2]

Source link

Tags:
, , , , , , , , ,