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JimTrade
2021-07-11

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Fed Flags Crypto Assets for First Time in Financial Risk Review

(Bloomberg) -- The Federal Reserve singled out a surge in crypto asset prices for the first time in

Fed Flags Crypto Assets for First Time in Financial Risk Review

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Karma Rider
·2021-07-11
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Spokespeople for both the Fed and Coinbase declined to comment on what was discussed.</p>\n<p>The price of Bitcoin is up some 250% from a year ago, although it is well down from its April high.</p>\n<p>Powell has previously said that he wants the Fed to play “a leading role” in the development of international standards for digital currency. The central bank plans to issue a discussion paper this summer highlighting the risks and benefits of digital payments.</p>\n<p>In the Monetary Policy Report, the Fed said that that some parts of the financial system had grown more vulnerable to potential instability since its last account to Congress in February, but that the core of system remained resilient.</p>\n<p>It characterized equity and commercial real estate prices as high and said that spreads on corporate bonds and leverage loans remained low.</p>\n<p>“The surge in the prices of a variety of crypto assets also reflects in part increased risk appetite,” it added.</p>\n<p>The central bank also issued a warning about the general level of asset prices.</p>\n<p>“Asset prices may be vulnerable to significant declines should investor risk appetite fall, interest rates rise unexpectedly, or the recovery stall,” the report said.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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