What's Hot

    Chinese tax authorities step up pressure on private crypto investors

    26.01.2023

    Tether will look for crypto transactions that pay for child pornography

    26.01.2023

    On-chain activity in the Optimism network collapsed after the end of the NFT bonus program

    26.01.2023
    Facebook Twitter Instagram
    Friday, January 27
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Bitcoin»Economist urges Fed to protect dollar from bitcoin
    04bc964fa835807c790c07f910d5945d103ed345
    Bitcoin

    Economist urges Fed to protect dollar from bitcoin

    AdministratorBy Administrator05.03.2022No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reading time: ~2 m


    University of Pennsylvania Wharton School professor Jeremy Siegel said the Federal Reserve needs to raise interest rates quickly. With inflation spiraling out of control, he urged the central bank to protect the dollar from devaluation and from a possible “capture” by bitcoin.

    The fact is that last month Fed Chairman Jerome Powell signaled a hasty interest rate hike, but experts doubt that he will implement this strategy, given Russia’s fighting in Ukraine.

    Siegel, in turn, is also more skeptical about the Fed’s desire to fight inflation. In support of his words, he cited the mistakes of the Fed and the extremely incorrect forecasts for inflation last year, which reached a 40-year high.

    Indeed, both Powell and Treasury Secretary Janet Yellen have acknowledged that inflation is no longer temporary, as they described it last year. Interestingly, the president of the European Central Bank, Christine Lagarde, still maintains that inflation will not affect Europe in the same way as the United States.

    Despite the conflict with Russia, Siegel believes the Fed needs to “bite its teeth” on monetary policy to catch up. Otherwise, bitcoin can pose a serious threat.

    We must protect the dollar,” said the professor. – In order not to be afraid of the capture of bitcoin …

    Bitcoin is often referred to as an inflation hedge or digital gold because of its fixed supply of 21 million coins. This makes it immune to devaluation through money printing, which is why some experts believe that BTC will become the new global reserve currency.

    Twitter founder Jack Dorsey is convinced that the US dollar is doomed to hyperinflation, and US Senator Cynthia Lummis thanked God for the existence of bitcoin last October.




    #Economist #urges #Fed #protect #dollar #bitcoin

    Bitcoin dollar economist Fed protect urges
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    AI Calls Bitcoin a Tool to Destroy Central Banks

    26.01.2023

    Anthony Scaramucci Predicts Bitcoin’s “Renaissance” in 2023

    26.01.2023

    Crypto Analyst Expects Bitcoin to Rise Above $30,000 in February

    26.01.2023

    The price of bitcoin is growing due to the growth of activity of institutional investors

    26.01.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Chinese tax authorities step up pressure on private crypto investors
    • Tether will look for crypto transactions that pay for child pornography
    • On-chain activity in the Optimism network collapsed after the end of the NFT bonus program
    • Shiba Inu Network Transferred 3 Trillion SHIB Tokens Worth $38 Million
    • AI Calls Bitcoin a Tool to Destroy Central Banks
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.