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The European-Mediterranean Seismological Centre reported that a 4.9-magnitude earthquake struck off the coast of Northern California, USA, at a depth of 10.0 kilometers.August 29th - US President Trump: New York Governor Kathy Hozul supports Canada, not the United States, and Canada has been taking advantage of New York for years, especially during her tenure. Can you imagine her saying she doesnt respect or recognize "American Lakes"? This is why the "stupid Democrats" are so harmful to our country. Vote for Bruce Blackman as Governor of New York. He has my complete and utter support and will never let you down!On August 29th, CICC pointed out that Federal Reserve Chairman Warshs speech at Jackson Hole was hawkish: he acknowledged that inflation remained high, clarified that interest rates would remain the primary policy tool, and stated that he would "act as needed." He also cited economic resilience, stable employment, and loose financial conditions as evidence that current policy risks are more skewed towards inflation. He also attributed the 65-month period of excessive inflation to the central bank itself, correcting his ambiguous statement in July that "the market should raise rates in place of the Fed." CICC believes this speech helped rebuild the Feds credibility, and the market began trading on the marginal repair of policy credibility afterward. In the long term, Warsh still maintains that AI may reshape the economic and policy framework and continues to push for reforms such as reducing forward guidance. For the market, this statement increased the probability of a Fed rate hike this year, but even so, it is not necessarily purely negative. The market currently does not lack liquidity, but rather policy discipline and predictability. As long as inflation can be suppressed in a timely manner, it will actually benefit the market in the medium term.August 29th - According to the latest data released by the Nepalese police, as of 6:00 AM local time on the 29th, the death toll from flash floods in northern Nepal has risen to 616. Flash floods struck the Rasuwa district in northern Nepal on the 26th. On the 26th, the Nepalese government decided, in accordance with relevant laws, to designate some local administrative units in the affected areas as disaster crisis zones for a period of three months, in order to concentrate relief resources, strengthen personnel management, and advance post-disaster recovery work.On August 29, U.S. Central Command Commander Brad Cooper stated on August 28 that approximately 50,000 U.S. troops are currently deployed in the Middle East, many of whom are enforcing the naval blockade against Iran. He also stated that since the blockade was reinstated in mid-July, more than 20 warships have been maintaining it.

US Fed Considering CBDC, But Not Decided To Pursue or Implement

Cory Russell

Apr 15, 2022 10:40

The Federal Reserve of the United States has said that it is exploring creating a central bank digital currency (CBDC). The central bank has not yet determined whether or not to pursue or deploy a digital dollar, according to the central bank.


The Fed, on the other hand, has already issued a CBDC report emphasizing the use of stablecoins like USD Coin and Tether; the statement on Thursday is the most important to date.

Fed Exploring CBDC “Benefits and Risks”

In a tweet today, the authority said that it is looking into the possible advantages and hazards of CBDCs.


It has also produced a series of CBDC FAQs, explaining why it is contemplating it now. Given technology improvements ushering in a rush of new private-sector financial goods and services, the Fed believes it is the "appropriate moment" to examine a digital dollar.


CBDCs, according to the bank, might provide a variety of advantages. A digital dollar, for example, might give consumers and businesses a simple, electronic version of central bank money, as well as a platform for entrepreneurs to develop new financial goods and services and promote quicker and cheaper payments.

Lawmakers Critical of Fed’s Progress

US legislators questioned Fed Chair Jerome Powell in January on the pace and status of the Fed's CBDC review, which was set to be released last summer.


Fed Governor Christopher Waller stated last month that he isn't sure that a CBDC is necessary for retail consumers in particular.


"Are we actually in need of it?" That is something I have yet to be persuaded of. It's not to say I couldn't be, but I've never seen that on a retail CBDC."


Tom Emmer, a Minnesota politician, sponsored a measure in January to restrict the Fed from exercising unilateral authority over the US CBDC. The lawmaker wants the central bank to be prohibited from issuing digital dollars to people directly.

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