Crypto Made The Agenda At Last Month’s Fed Meeting
Seems like the fedsters are worried about crypto, as they should be!
Top Federal Reserve officials are so concerned about the potential danger posed by cryptocurrencies to the financial system that they discussed it during a seminal monthly closed-door meeting in July.
“Some participants cited various potential risks to financial stability including the risks associated with expanded use of cryptocurrencies,” according to minutes of the July 27-28 meeting of the Federal Open Market Committee (FOMC). This is the panel at the U.S. central bank that sets monetary policy.
While officials from the Federal Reserve Board in Washington and regional Fed banks have expressed a range of views about crypto in recent months, from welcoming to wary, this appears to be the first time the topic has come up in the FOMC.