JessHang
2021-07-15
Agree with Old Yee👍
Fed Chair Powell hints on digital dollar timing
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Slatestone Wealth Chief Market Strategist Kenny Polcari, Ladenburg Thalmann Asset ...</p>\n\n<a href=\"https://www.foxbusiness.com/economy/fed-chair-powell-hints-on-digital-dollar-timing\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.foxbusiness.com/economy/fed-chair-powell-hints-on-digital-dollar-timing","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192600062","content_text":"Powell said the central bank is working hard on the report.\n\n\nStocks mixed after Fed Chair Powell eases taper fears. Slatestone Wealth Chief Market Strategist Kenny Polcari, Ladenburg Thalmann Asset Management CEO Phil Blancato and Kaltbaum Capital Management President Gary Kaltbaum on the state of the economy and Fed Chair Jerome Powell's remarks.\n\nFederal Reserve Chairman Jerome Powell said that the central bank was advancing research and public outreach regarding its own digital dollar – and a white paper could be released this fall.\n\"We expect to publish a report around – could be early September, plus or minus, in that timeframe,\" Powell said in testimony before the U.S. House of Representatives Financial Services. \"We’re working hard on it right now.\"\nThe report will address digital payments broadly, including items like stablecoins and crypto assets, which Powell said are at a \"critical point in terms of the appropriate regulation.\"\nStablecoins refer to a digital currency that ties its market value to an outside asset, like the U.S. dollar, for price stabilization.\nIn the case of a central bank digital currency, Powell said officials are working on laying out questions for the public to respond to.\n\"We want to begin really a major public consultation across many different groups, including Congress of course,\" Powell said.\nThe report will also address the benefits and drawbacks, including a lessened need for multiple alternative forms of cryptocurrencies that could create risk.\n\"Particularly, you wouldn’t need stablecoins, you wouldn’t need cryptocurrencies if you had a digital U.S. currency - I think that’s one of the stronger arguments in its favor,\" Powell said.\nThe Fed chair indicated there was still a lot of work left to do on both the technical and policy sides.\nHe said the U.S. was not in danger of losing its role as the world’s reserve currency, which offered an advantage as it worked toward a digital dollar.\n\"We have first mover advantage by virtue of that,\" Powell said. \"So I think it’s way more important to get it right than it is to do it fast.\"\nFederal Reserve Governor Lael Brainard said in May that the Federal Reserve was increasing its engagement in the research and development of a digital version of the U.S. dollar.","news_type":1},"isVote":1,"tweetType":1,"viewCount":294,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["ADC"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":17,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/144783673"}
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