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This Month In Bitcoin And Central Banks – Bitcoin Magazine
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Central Bank Update February 2021 - Fed Watch 41 - Bitcoin Magazine Podcast
Listen To This Episode:Apple[2]Spotify[3]Google[4]Libsyn[5]Overcast[6]In this episode of Bitcoin Magazine’s “Fed Watch” podcast, Christian Keroles and Ansel Lindner gave an update on central bank news in relation to bitcoin. This is the only podcast that tackles this intersection of macro and bitcoin from a realistic and skeptical point of view. The cracks in the legacy financial system are fairly evident at this point, but it is not going to be a quick and easy transition to what is next. Bitcoin’s niche is growing and muscling into the territory of the legacy system. But it will happen in phases, without a centralized plan. This podcast examines that point friction.This episode started with a review of Federal Reserve Chairman Jerome Powell’s comments over the last week. The hosts dove into its dual mandate of stable prices and maximum employment, and the Fed’s focus is switching to employment. Powell also implied a slight change to its policy on inflation “running hot” over 2 percent in an attempt to target an average of 2 percent inflation. He said that stimulus results in temporary shocks of inflation, and it is those temporary shocks over 2 percent that is is willing to allow.Next, the hosts moved onto the European Central Bank (ECB), which has been the center of a majority of central bank news over the last six months. Lindner read through some comments by Fabio Panetta, member of the ECB’s executive board and chair of the task force on a digital euro, from last week. He was very negative on corporate stablecoins while dismissing bitcoin completely. Then, out of the other side
