When asked by the U.S. Fed about Libra, some of the nation’s biggest banks say Facebook’s token will reduce their payment volumes.
Federal Reserve News
The Federal Reserve. or The Federal Reserve System, is the central bank of the United States that was founded in 1913 by the U.S. Congress in order to establish central financial control. The Federal Reserve is responsible for a lot of functions, so some may become confused about its role and ask the question “what does the Federal Reserve do?” The main objectives of the Federal Reserve System were established along with its founding in 1913. They are: maximizing employment, stabilizing prices and moderating long-term interest rates. Those are achieved by open-market operations, placing the discount rate, and establishing reserve requirements for financial institutions. Decisions and prognoses of the Federal Reserve are crucial for world’s economy because most economic operations are dependent on the U.S. dollar, which falls under the Federal Reserve’s control.
- CFTC File Lawsuit Against $11M Ponzi-Like Cryptocurrency Scam
- Central Banks Have Three Options for Crypto Regulations, Says Official
- Swiss Federal Council Continues to Monitor Stablecoins and Blockchain
- Bitcoin Back Below $8K — But Is the Macro Bullish Trend Broken?
- Price Analysis 16/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX