Fed Chair Powell Says Soft Landing Will Be 'Challenging,' Calls for Crypto Regulation

6/26/2022 6:43:00 PM

The chair of the U.S. central bank was challenged by senators on Wednesday on issues including inflation and crypto regulation.

Fed Chair Jerome Powell was challenged with questions about the crypto crash and digital assets during a hearing. He repeatedly highlighted a need for a better regulatory framework for crypto.

The chair of the U.S. central bank was challenged by senators on Wednesday on issues including inflation and crypto regulation.

on Twitter Federal Reserve Chair Jerome Powell told Congress that the U.PHOENIX — Avondale Mayor Ken Weise said he plans to get a long-range regional transportation plan through funding approval and work to tackle homelessness during his tenure as the new chair of the Maricopa Association of Governments (MAG) Regional Council.(CNN)Arizona Republican Party Chair Kelli Ward and her husband, Michael Ward, were both subpoenaed Friday as part of the federal investigation into fake slates of electors, a source familiar with the matter tells CNN.almost three decades.

S.central bank must"go ahead" and keep raising interest rates to get inflation down, even if that means that the economy faces higher unemployment and a potential recession.Phoenix Mayor Kate Gallego was elected vice chair and Carefree Mayor Les Peterson was elected treasurer.During a hearing before the Senate Banking Committee on Wednesday, Powell said that a soft landing “is going to be very challenging,” and that a recession is “certainly a possibility.The fake certificates were sent to the National Archives in the weeks after the election and had no impact on the electoral outcome.” Sen.The MAG Regional Council is a 32-member board that serves as the governing and policy-making body for MAG.John Kennedy (R-La.In particular, these market maestros are worried that inflation has become so entrenched that it's no longer just about acute shortages of raw materials or supply-chain disruptions.

) called Powell the “most powerful man” in the world right now.Prop 400 is set to expire in 2025 and will need to be extended by voters, which mayors in the Valley have been emphasizing as a priority.Alexander Kolodin, an attorney for the Wards, told CNN:"This is an investigation based on allegations that our clients engaged in core First Amendment-protected activity, specifically, petitioning Congress for redress of grievances.“We are not trying to provoke and do not think we will need to provoke a recession, but we do think it’s absolutely essential that we restore price stability, really for the benefit of the labor market, as much as anything else,” he said.Inflation is still running at a four-decade high of 8..6% in May, a new high that surprised economists, traders and even Fed officials.The new round of subpoenas represented an escalation of a criminal probe that had previously approached lower-level Republicans.Powell said the Fed will continue to raise interest rates until it sees a clear sign that inflation is cooling down.The problem now is that it's spread to the services sector of the economy.

“Financial conditions have already priced in additional rate increases, but we need to go ahead and have them,” he said.The federal funds rate is currently in a range between 1.The committee unveiled new information during its fourth public hearing Tuesday highlighting the role that Wisconsin Republican Sen.5%-1.75%, but revised projections by Fed officials last week show that the rate is expected to go up to 3.25%-3.CNN has previously reported on the role that key Trump allies, including his former attorney Rudy Giuliani, played in overseeing the effort, but witnesses revealed new details Tuesday about how the former President himself was not only aware of the push, but seemingly endorsed it.And then businesses increase their prices.

5% by the end of the year.Three senators, including Sen.Cynthia Lummis (R-Wyo..), Sen.Kyrsten Sinema (D-Ariz.The best investors are paid to predict what nightmares could befall the market and avoid or capitalize on them.

) and Sen.Sherrod Brown (D-Ohio), challenged Powell with questions on crypto, specifically regulation, accounting treatment of digital assets and the current crash in the crypto market.“We are tracking those events very carefully,” said Powell, but the central bank is “not really seeing significant macroeconomic implications, so far." He also repeatedly highlighted that there’s a need for a better regulatory framework for crypto.“The same activity should have the same regulation no matter where it appears, and that isn't the case right now because a lot of the digital finance products, in some ways, are quite similar to products that have existed in the banking system or the capital markets, but they're just not regulated the same way,” he said.It may already be too late So just how bad is inflation? In May, the Consumer Price Index jumped 8.

“So we need to do that." Read more about.

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New MAG chair to focus on transportation, homelessnessGetting Proposition 400 extended to continue funding road projects and addressing homelessness in the area are Avondale mayor Ken Weise's top priorities as he takes over as chair of the board of the Maricopa Association of Governments: that will be a huge no for me on Prop 400E... There are other ways, dare to be different and try them! It Always falls on the backs of the Taxpayers...

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Arizona GOP chair subpoenaed in federal investigation of fake electorsArizona Republican Party Chair Kelli Ward and her husband, Michael Ward, were both subpoenaed as part of the federal investigation into fake slates of electors, a source tells CNN. The beat goes on. How many fakers for Trump are there? 'Kelli and Michael Ward.... COME ON DOWN!' Angry_Staffer I'm crying. Laughing.

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San Francisco Fed president: Getting inflation down is ‘number one priority’FOX Business' Edward Lawrence sits down with San Francisco Federal Reserve President Mary Daly to discuss inflation and the U.S. economy under President Biden. Then raise interest rates to 10%+ immediately Pump gas. No, it really isn't.

Fed policymakers embrace more rate hikes, markets a little lessA pair of U.S. central bankers said on Friday they supported further sharp interest rate hikes to stem rapid price rises, even as investors cheered economic data showing inflation expectations to be less worrisome than initially feared.