{"id":43242,"date":"2021-03-23T00:07:50","date_gmt":"2021-03-22T20:07:50","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=43242"},"modified":"2021-03-23T00:07:56","modified_gmt":"2021-03-22T20:07:56","slug":"powell-cryptocurrencies-are-speculative-unstable-assets","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/powell-cryptocurrencies-are-speculative-unstable-assets\/03\/23\/market-updates\/","title":{"rendered":"Powell: Cryptocurrencies are Speculative Unstable Assets"},"content":{"rendered":"\n<p>Cryptocurrencies are speculative assets and an unstable store of value, said the Chairman of the United States Federal Reserve, Jerome Powell, on Monday, noting that the Fed is not in a hurry to introduce its own digital currency, CNBC reported.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cThey\u2019re highly volatile and therefore not really useful stores of value and they\u2019re not backed by anything.\u201d<\/p><p>\u201cIt\u2019s more a speculative asset that\u2019s essentially a substitute for gold rather than for the Dollar.\u201d<\/p><\/blockquote>\n\n\n\n<p><\/p>\n\n\n\n<p>Once again, Powell noted that a type of legislation would be needed first before going through with the process of introducing an official digital currency in the U.S.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cTo move forward on this, we would need buy-in from Congress, from the administration, from broad elements of the public, and we haven\u2019t really begun the job of that public engagement.\u201d<\/p><p>\u201cSo you can expect us to move with great care and transparency with regard to developing a central bank digital currency.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies are speculative assets and an unstable store of value, said the Chairman of the United States Federal Reserve, Jerome Powell, on Monday, noting that the Fed is not in a hurry to introduce its own digital currency, CNBC reported. \u201cThey\u2019re highly volatile and therefore not really useful stores of value and they\u2019re not backed &hellip;<\/p>\n","protected":false},"author":10,"featured_media":32069,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[6903,6867],"class_list":["post-43242","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-cryptocurrencies","tag-federal-reserve"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=43242"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43242\/revisions"}],"predecessor-version":[{"id":43243,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43242\/revisions\/43243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32069"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=43242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=43242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=43242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}