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Fed George: While inflation may be moderating, it remains elevated



Time:8/19/2022 12:34:54 PM

[Fed George: Although inflation may be easing, it is still high] On August 19, the Federal Reserve George said that although inflation may be easing, it is still high. So far, the degree to which core inflation has eased is "hardly reassuring". Last month's inflation numbers were "encouraging," but not triumphant yet. There is still a "pretty serious imbalance" between demand and supply in the United States. U.S. economic growth is expected to continue to slow, and inflation expectations look well anchored. The tense situation in the US labor market will take some time to ease, and demand is still at a relatively high level.

Other news:

Bitfury CEO: The Federal Reserve's tightening policy is not good for the price of Bitcoin: Golden Finance reported that Bitfury CEO Brian Brooks believes that the Fed's fiscal tightening policy is not good for the price of Bitcoin.

Brian Brooks said that traders do not see BTC as an effective hedge against inflation in times of extreme fiscal austerity. Therefore, HODLers may expect BTC prices to remain relatively low, at least in the short term.

In an interview with CNBC on August 29, Brian Brooks also criticized the US SEC for handling the encryption industry in a lawsuit, saying that regulators need to "take it seriously" and provide appropriate guidance instead of resorting to court. (Beincrypto) [2022/8/30 12:57:45]

Traders now see the Fed's rate hike cycle ending as early as this year: On June 23, the overnight interest rate swap market showed that traders were beginning to abandon any expectations that the FOMC would continue to raise interest rates after December 2022. The trend of Eurodollar means that the Fed may even implement a single rate cut of 50 basis points in 2023. The latest data suggest the Fed has room to raise rates by 175 basis points for the rest of 2022. This could be interpreted as room for another 75 basis point rate hike before the Fed adjusts its rate hike actions to be less aggressive. (Golden Ten) [2022/6/24 1:27:58]

VOICE | Ex-Fed official: Plans to end dollar dominance through digital currency don’t make sense: Previously, Bank of England Governor Carney urged Libra-type reserve currencies to end dollar dominance and called for a multipolar reserve currency system. In response, former U.S. Federal Reserve official Simon Potter said plans to end the U.S. dollar’s dominance by replacing it with a digital currency make no sense. He added: "I don't see any reason to complicate things when you have a large and liquid capital market in the U.S., because without a single currency to fundamentally price things and have a deep market, it would Making people's lives harder. The global economy." (cointelegraph) [2019/9/26]

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