Fed Chair Powell Says We Would Not Support A Central Bank Digital Currency For Individuals; If We Did Have A Central Bank Digital Currency It Would Be Intermediated By Banks
Portfolio Pulse from Happy Mohamed
Federal Reserve Chair Jerome Powell stated that the central bank would not support a Central Bank Digital Currency (CBDC) for individuals. If a CBDC were to be implemented, it would be intermediated by banks.
June 21, 2023 | 3:40 pm
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NEUTRAL IMPACT
Powell's statement on not supporting a CBDC for individuals may have a neutral impact on Bitcoin's price.
As the statement does not directly mention Bitcoin or other cryptocurrencies, the impact on Bitcoin's price is likely to be neutral. However, it may indicate the Fed's cautious approach towards digital currencies.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Powell's statement on not supporting a CBDC for individuals may have a neutral impact on Ethereum's price.
As the statement does not directly mention Ethereum or other cryptocurrencies, the impact on Ethereum's price is likely to be neutral. However, it may indicate the Fed's cautious approach towards digital currencies.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Powell's statement on CBDC being intermediated by banks may have a neutral impact on the SPDR S&P Bank ETF (KBE).
As the statement does not provide specific details on the implementation of a CBDC, the impact on the SPDR S&P Bank ETF (KBE) is likely to be neutral. However, it may indicate the Fed's cautious approach towards digital currencies.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Powell's statement on CBDC being intermediated by banks may have a neutral impact on the SPDR S&P Regional Banking ETF (KRE).
As the statement does not provide specific details on the implementation of a CBDC, the impact on the SPDR S&P Regional Banking ETF (KRE) is likely to be neutral. However, it may indicate the Fed's cautious approach towards digital currencies.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Powell's statement on not supporting a CBDC for individuals may have a neutral impact on the SPDR S&P 500 ETF (SPY).
As the statement does not directly mention the broader market or specific sectors, the impact on the SPDR S&P 500 ETF (SPY) is likely to be neutral. However, it may indicate the Fed's cautious approach towards digital currencies.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Powell's statement on CBDC being intermediated by banks may have a neutral impact on the Financial Select Sector SPDR Fund (XLF).
As the statement does not provide specific details on the implementation of a CBDC, the impact on the Financial Select Sector SPDR Fund (XLF) is likely to be neutral. However, it may indicate the Fed's cautious approach towards digital currencies.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50