Minneapolis Federal Reserve President Neel Kashkari expressed skepticism about cryptocurrencies, likening them to Beanie Babies and Pez dispensers. He questioned the need for a central bank digital currency and criticized Bitcoin as a terrible inflation hedge. Kashkari also anticipates the Fed cutting interest rates two or three times in 2024, contrary to market expectations.
LISTEN NOW: Minneapolis Fed President Neel Kashkari is reading the economyโs mixed signals for us. Listen and follow the @SquawkCNBC podcast here: https://t.co/gZaa8fjg8c https://t.co/jbBnMKwHOQ
Minneapolis Federal Reserve President Neel Kashkari said that he anticipates the Fed will cut interest rates two or three times in 2024 https://t.co/OKNSuJBtrj https://t.co/Et0HjTaOeh
Minneapolis Federal Reserve President Neel Kashkari said Wednesday that he expects the central bank to cut rates only a few times this year, contrary to market expectations. https://t.co/Xcswyx08As https://t.co/crx2TSN0IY
Why the Fed's Kashkari is confident in the USD network: "There is an infinite amount of cash at the Federal Reserve" Why he isn't confident in the bitcoin network: "Americans aren't using it to buy sandwiches... it has no utility in the real world." https://t.co/TeLcofA8E6 https://t.co/H8eFz5XdYT
โฟ๐ฅ๐๐๐๐๐ก๐: President of the Federal Reserve Bank of Minneapolis Neel Kashkari explains why he is skeptical of #bitcoin as a currency: https://t.co/UrMhqr2zXq
Minneapolis Fed President Neel Kashkari celebrated the recent pullback in inflation, though he noted the central bank has not yet reached its goal https://t.co/ODd3n12U4M
๐ด FED'S KASHKARI: I AM SKEPTICAL OF WHY THE US WOULD NEED A CENTRAL BANK DIGITAL CURRENCY.
โ KASHKARI: SKEPTICAL OF WHY U.S. WOULD NEED A CENTRAL BANK DIGITAL CURRENCY
๐บ๐ธ FED'S KASHKARI: TURNED OUT THAT BITCOIN $BTC WAS TERRIBLE INFLATION HEDGE
Fed's Kashkari likens cryptocurrencies to Beanie Babies, Pez dispensers.