Bitcoin 
$88,102 price As expected, after testing $ 89 thousand, it retreated and is at $ 86,450. Altcoins While some of them continued the day with profits, DOGE quickly climbed to the 0.4 dollar limit. The relationship between Trump and Elon Musk probably contributed to this rise. So, what are the latest comments of Fed members?
Cryptocurrencies and the Fed
Fed member Waller made a statement a few minutes ago. stablecoins He mentioned that it was ultimately a synthetic dollar. The regulations expected to come in this area are a priority and we will see stablecoins being regulated with Trump taking office. Thus, a new process may occur in which the crypto-based dollar grows faster around the world and is even actively adopted by banks.
The important highlights of Waller’s speech were:
“The private sector is the most suitable sector for innovating payment systems. There are times when the government can address market inefficiencies. The government must have a clear goal when providing financial services. The Fed is ready to support private innovation, but also keeps financial stability in mind. “I still see no justification for the Fed’s digital dollar.”
Another Fed member, Barkin, mentioned that the focus on upward inflation risks or downward employment risks may change depending on how the economy develops.
The expectation for the Fed meeting to be held 36 days later on December 18 is for a 25bp cut with a 65% probability. This shows that the targeted 100bp reduction expectation throughout 2024 will come true.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
