The Chairman of the Federal Reserve, Jerome Powell, brought Bitcoin (BTC) to the spotlight during his testimony to the Senate Banking Committee on Thursday. In his first day of testimony, Powell touched on the current state of the U.S. economy, covering everything from the ramifications of not raising the debt ceiling to his current status […]
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Gold Beats Bitcoin as Fed Chair Powell Finalizes Dovish Pivot
Monetary policy may or may not have a direct impact on bitcoin, but the US Federal Reserve’s dovish pivot is helping gold regain a bit of shine from its digital counterpart. The precious metal popped to its weekly high today, extending gains from the previous session after Federal Reserve Chairman Jerome Powell appeared to set […]
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Maxine Waters Grills Fed Chair Powell on Trump – And Crypto
After grilling Federal Reserve Chairman Jerome Powell on Capitol Hill about his agency’s response to Facebook’s Libra “cryptocurrency,” US Representative Maxine Waters finished her questioning by asking the central banker what he would do if Donald Trump “fired” him. Federal Reserve Chair on Resigning: “I Wouldn’t Do That” The California Democrat started and ended her […]
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Trump Prefers ECB’s Draghi as Fed Chair in Epic Powell Diss
President Donald Trump took a swipe at the Federal Reserve Chairman this week, saying Jerome Powell’s rush to raise interest rates hampered an economy that didn’t need tightening. Draghi, Not Powell Donald Trump said he would prefer the actions of European Central Bank President Mario Draghi – and wanted him as Fed Chairman instead – […]
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Dow Rips Lower After Fed’s Powell Sounds Alarm Bell on U.S. Economy
The Dow and broader U.S. stock market declined sharply on Tuesday, as investors reacted to dovish commentary from Fed chief Jerome Powell that suggested central bankers were becoming ever-more concerned about the economy. Dow, S&P 500, and Nasdaq Sink in a Sea of Red All of Wall Street’s benchmark indexes traded in negative territory on […]
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Powell Flashes Brutal Middle Finger at Trump – And the Stock Market
Sure, he couched it in the painfully-sanitized Fedspeak one expects from the US central bank, but Federal Reserve Chair Jerome Powell just flashed President Trump – and stock market bulls – a big, bony middle finger. Fed Chair Warns Stock Market Not to Bank on a Rate Cut Speaking Tuesday at a Council on Foreign […]
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Dow Ekes Out Gains Without Rate Cut as Defiant Powell Defends His Job
By CCN Markets: The Dow Jones Industrial Average was meandering in and out of positive territory as investors digested a fascinating Federal Reserve meeting. In the end, stocks managed to hold onto gains, with the Dow closing at 26,504, up fractionally. By keeping rates on hold, Chairman Jerome Powell faced his first-ever dissenter. St. Louis Fed President James Bullard voted for a rate cut. Could the Fed chair’s job be at risk? Dow Fails to Rally The lack of direction in the Dow was likely due to the fact that the Fed was split down the middle over its interest
Federal Reserve’s Jerome Powell “Very Worried” About Massive U.S. Debt
Jerome Powell said today that the Federal Reserve has no choice but to face the mounting U.S. debt balance. That negative balance is now $ 21.9 trillion. The annual U.S. deficit has reached sustained highs of over $ 1 trillion. Speaking at The Economic Club of Washington, D.C today Powell said: “I’m very worried about it.” Referring
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New York Like an ‘Abusive, Controlling Ex’: Kraken CEO Jesse Powell
Jesse Powell, CEO of cryptocurrency exchange Kraken, has lobbed another bomb at the state of New York in regard to the latter’s stance toward the crypto industry and Kraken in particular. Writing on Twitter, Powell compared New York’s crypto regulators to an abusive ex-partner who continues to stalk the company even though it left the
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