In an 86-page report published on March 24. The United States Federal Reserve explained why it had rejected Custodia Bank’s membership application back in January. Among them, the bank’s crypto-related activities also finds a place. The report claims that the Fed’s board has expressed concerns about banks with business strategies
After the continuous collapse in the banking sector, Bitcoin (BTC) had a sudden bullish and reached the trading price of $28,000. BTC has risen about 22% this month and more than 65% since January 1. While the current growth of Bitcoin is impressive, it still marked by extreme volatility is
After the financial crisis in the crypto market and the collapse of several major banking institutions, Bitcoin registered better results than nearly 100% of the 500 leading trade companies in the United States on March 2023. Since March 10, the trading price of Bitcoin has surged by 37.06% and over
The U.S. Federal Reserve announced that it collaborated with the Swiss National Bank, Bank of England, Bank of Canada, Bank of Japan, European Central Bank, and Bank of Canada in a coordinated effort to enhance the supply of liquidity through the established U.S. dollar swap line arrangements. The action, which
The Federal Reserve of the United States introduced its domestic instant payments system, called “FedNow,” on Wednesday, March 15. A strong collection of fundamental clearing and settlement functions and value-added services will be available from the start. To keep the boxes of security, resilience, and innovation from being checked off,
While the global economy buzzed by the sudden collapse of the U.S. second-largest bank, Silicon Valley Bank (SVB), Goldman Sachs analysts predicted that they “no longer expect an interest rate hike” at March 22 meeting. In the past, Goldman Sachs reportedly predicted that Fed’s interest rates would increase by 25
Today was the first day of Federal Reserve Chair Jerome Powell’s semiannual hearing on monetary policy. Talking to a group of senators, he told them that the Fed is determined to get inflation down and would do everything it takes to make that happen. It was made quite plain by
The U.S. dollar turned slightly up today as traders and investors await the Federal Reserve Chair Jerome Powell’s testimony ahead of the last week’s jobs report, which will probably determine how much further the U.S. central bank raises interest rates. According to the Federal Reserve government report, Fed Chairman Jerome
The U.S. Federal Reserve published a fresh statement on Thursday. Alerting banks of the dangers associated with trading in cryptocurrency and similar assets. Continuing its intensified scrutiny of the cryptocurrency sector. The statement warned that banks face greater risks of running dry of cash. Because of the volatility of deposits
Near the conclusion of last year, inflation in the United States began to moderate. As the CPI data has been refined over the previous several months, this tendency has been confirmed once again. The 7.1% inflation rate recorded in November was below market forecasts. This trend continued in December when
