Bitcoin News and Finance: What You Need to Know

The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial 25bps increase in March 2022. FOMC Announcement Says ‘Additional Policy Firming May Be Appropriate’ At 2:00 p.m. Eastern Time, the central bank raised the benchmark interest rate citing that economic activity expanded “at a modest pace in the first quarter.” The Fed’s announcement noted that unemployment has been low but “inflation remains elevated.” The FOMC announcement further addressed the issues in the U.S. banking industry and the committee emphasized that the “U.S. banking system is sound and resilient.” The Fed’s unbroken chain of rate hikes is a testament to the bank’s unwavering commitment to getting inflation down. The FOMC’s press release n...

The U.S. Federal Reserve (Fed) has posted a job advertisement that seeks to hire a role related to stablecoins and central bank digital currencies (CBDC). The Fed is looking for a research manager to join its team to assess the “benefits and risks” of digital assets. The Role Is Part of the Fed’s Digital Innovation Policy Per the Linkedin job posting , the Federal Reserve Board expects the selected candidate to manage the “Digital Innovation Policy Program.” The department oversees “all aspects of a program focused on emerging issues at the intersection of technology and payments.” The Fed highlights in the post, the “changing nature” of payment platforms in a digital environment. However, the role is not limited to doing in-depth research on how digital assets could benefit the economy. In fact, the U.S. Federal Reserve is aiming with the research manager of the Digital Innovation Policy Program to address “regulatory framework for emerging payments platforms” issues. The job ad...