Fed's Mester Says Fed Won't Do Digital Currency Without Congress Involvement; U.S. Fiscal Path Not Sustainable, Must Be Brought Under Control; U.S. Fiscal Issues Are Not An Immediate Issue
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Mester stated that the Fed will not proceed with a digital currency without Congress's involvement. She also highlighted that the U.S. fiscal path is unsustainable and needs to be controlled, although it is not an immediate issue.
May 16, 2024 | 4:49 pm
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NEGATIVE IMPACT
Fed's Mester indicated that the Federal Reserve will not move forward with a digital currency without Congress's involvement, which could slow down the adoption of digital currencies like Bitcoin.
The statement suggests a delay in the adoption of digital currencies by the Federal Reserve, which could negatively impact the sentiment around Bitcoin in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Mester's comments on the unsustainable U.S. fiscal path may raise concerns among investors, potentially leading to short-term volatility in the stock market.
Concerns about the U.S. fiscal path could lead to increased market volatility as investors react to potential long-term economic implications.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60