The Fed, which left interest rates unchanged last night, asked about cryptocurrencies until the end of the press conference. The #Fed chairman said, "This should be done constructively."
The US Federal Reserve (Fed) went crazy yesterday with the interest rates it has been reducing in the last 3 years. As expected by the markets, interest rates were kept constant at 4.25%-4.5%.
The markets were curious about the Fed leaving interest rates, but #Powell 's fixed words were. Powell stated that he was determined about the 2% inflation target, and said that they would not be in a hurry to reduce interest rates. The Fed chairman also said that he would not respond to Trump's words, "I know the economy well."
Powell: We Have Not Met
At the end of the press conference, Powell was also asked about his perspective on cryptocurrencies and the steps of the new government. Powell stated that this job increases the performance of banks more accurately:
"As the Fed chairman, of course I would prefer banks to do this job. We are not against innovation and technology. However, they should do this after completing the necessary economic risk measures”
Powell also stated that a more effective regulatory system would be provided in the crypto world and would create a much better environment.