Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Sogo

(5,969 posts)
Thu Dec 19, 2024, 12:18 AM Dec 19

No wonder Trump and his Bitcoin goons are not happy with Jerome Powell.

He actually follows the law....

TheStreet
Fed Chair Jerome Powell Says, 'We're Not Allowed to Own Bitcoin' Amid Trump’s Push for Bitcoin Strategic Reserve


Federal Reserve Chair Jerome Powell has ruled out the possibility of the central bank adding Bitcoin to its balance sheet, citing legal restrictions under the Federal Reserve Act.

Powell addressed the issue during a Dec. 19 press conference, emphasizing that the Fed is not pursuing any legislative changes to alter this position.

"We’re not allowed to own Bitcoin. The Federal Reserve Act says what we can own, and we’re not looking for a law change," Powell said. "That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed."

1 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
No wonder Trump and his Bitcoin goons are not happy with Jerome Powell. (Original Post) Sogo Dec 19 OP
Bitcoin is a Ponzi scheme vapor2 Dec 19 #1
Latest Discussions»General Discussion»No wonder Trump and his B...