Jerome Powell, Chair of the Federal Reserve, made a significant announcement regarding the crypto industry, allowing banks in the U.S. to provide services to crypto companies.
Jerome Powell's Announcement on Crypto Industry
Recently, Jerome Powell announced that banks in the U.S. can provide services to the crypto industry and participate in crypto-related activities. However, he emphasized that this process should be conducted with proper safety measures and customer protections.
Impact on Bank and Crypto Company Collaboration
This decision is seen as a significant step for the crypto world, as it opens new opportunities for banks and crypto companies to work closely together, potentially easing the process of buying, selling, and holding cryptocurrencies.
Controversial Remarks on Interest Rates
Regarding interest rates, Powell made a controversial statement indicating that the Fed may consider cutting rates later this year, despite forecasts showing possible inflation. This stance has led to confusion and criticism from experts, who argue that lowering rates while expecting inflation to rise may harm economic stability.
The integration of banks into the cryptocurrency realm through Jerome Powell's announcement represents a significant step, although his perspective on interest rates raises debates among specialists.
