By CCN Markets: While Jerome Powell remains in the hot seat, a former Fed Chair insists that things are not that bad from where she sits. Janet Yellen, who was in Powell's spot from 2014-2018, visited Fox Business where she said that the inverted yield curve, which has everyone in a tizzy about a recession, could be wrong. Investors clearly weren't listening, sending the Dow Jones to its worst...
The stock market is just days away from receiving the interest rate cut it so fervently desires, but optimism on that front failed to translate into an early-week surge for the Dow. Meanwhile, former Federal Reserve Chair Janet Yellen warned of the “risks” of a “weakened” global economy. Dow Cautiously Advances as S&P 500, Nasdaq Slump Wall Street's major indices tepidly entered the Monday...
In a recent interview, the renowned female economist Janet Yellen was critical of US President Donald Trump’s economic prowess. Yellen says Trump demonstrates a “lack of understanding” as she prepares to become president-elect of the American Economic Association. Feminist Hero and “Phenomenon” Yellen Says Powerful Fed is Misunderstood by Donald Trump In a recent interview with Marketplace Yellen...
Janet Yellen, the former chair of the Federal Reserve, has doubled down on her longstanding criticisms of bitcoin and other cryptocurrency assets. Speaking on Monday at the 2018 Canada FinTech Forum in Montreal, the Obama appointee, who led the Fed from 2014 to 2018 following a four-year tenure as vice chair, alleged that bitcoin’s decentralized nature inhibited its utility as a payment...
The head of the U.S. Federal Reserve warned Congress that bitcoin and other cryptocurrencies are dangerous to “unsophisticated investors” and should not be considered real currencies. Fed Chair Powell Criticizes Cryptocurrencies Jerome Powell, who became Fed chair in February, succeeding fellow cryptocurrency critic Janet Yellen, said on Capitol Hill that "relatively unsophisticated investors see...
In her final press conference as Fed Reserve Chair, Janet Yellen called bitcoin “a highly speculative asset” that “doesn’t constitute legal tender.” Yellen was speaking to reporters in her final presser on Wednesday (her term comes to an end in February) when the subject of bitcoin came up. Bitcoin isn’t a stable store of value and makes for a “very small role” in the American payments system...
A recent event in Washington attended by representatives from over 90 central banks had Federal Reserve Chairwoman Janet Yellen encourage her counterparts to study emerging technologies, specifically mentioning bitcoin and the blockchain. The Federal Reserve Annual Meeting, a three-day event hosted by the Federal Reserve, World Bank, and the IMF in Washington had a notable attendee this year in...
This week on CCN, we learned that Mt. Gox is practically bankrupt, that Senator Joe Manchin wants Bitcoin banned in the United States (and Chairwoman Janet Yellen's response), that the Litecoin community raised over 120 LTC for a Vietnamese orphanage, and more. Here are some of our top stories this week (23 February - 2 March) in cased you missed them in article and video form. [youtube ] Gox is...