Powell Sees No ‘Macroeconomic Implications’ From Bitcoin Price Swings, But ‘Bett

[Jaya60]

Both crypto markets and traditional equity markets have taken a beating in 2022.The Federal Reserve is closely watching the crypto world—but isn’t worried, according to the central bank’s chairman.

Fed Chief Jerome Powell said today at a Senate committee meeting that the bank saw no “macroeconomic implications” from Bitcoin and the wider crypto market’s volatile price swings, but that better regulation still was required.“I think the principle implication is really what we’ve been saying, and what others have been saying for some time, which is that in this [crypto] very innovative, new space, really there is a need for a better regulatory framework,” said Powell, after saying the central bank was closely watching it.more