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FameEX Morning Crypto News Recap | December 12, 2023
2023-12-12 12:02:25
Legal Expert Alleges Collusion Between Senator Elizabeth Warren and SEC Chair Gary Gensler, Suggesting Breach of Oath
Lawyer John Deaton accused Senator Elizabeth Warren of breaching her oath as a Senate Banking Committee member by colluding with SEC Chair Gary Gensler. Deaton alleged that instead of conducting proper oversight of the SEC, Warren provided Gensler with pre-determined questions and suggested answers for a hearing, compromising her role as a committee member.
Bank of Russia Extends Digital Ruble Pilot Program Until End of 2024
The Bank of Russia has extended its digital ruble pilot program through the end of 2024, with the expectation that widespread adoption of the digital ruble will occur by 2025. This move is part of Russia's efforts to develop its central bank digital currency (CBDC) and modernize its financial infrastructure.
Vivek Ramaswamy Criticizes SEC Chair Gary Gensler, Calling for Regulatory Reform
Presidential candidate Vivek Ramaswamy strongly criticized the U.S. Securities and Exchange Commission (SEC) and its chair, Gary Gensler, for their inaction regarding fraud cases in the crypto industry. Ramaswamy argued that regulatory reforms were necessary, highlighting that the presence of such cases indicated the inadequacy of the current regulatory framework.
World Gold Council Forecasts Stable Performance in 'Soft Landing' Scenario The World Gold Council (WGC) foresees stable demand for gold in a "soft landing" scenario but cautions that the possibility of a recession remains, citing the U.S. Federal Reserve's limited success in achieving soft landings in the past, with only two out of nine tightening cycles resulting in such outcomes. Economist Steve Hanke Criticizes Nobel Laureate Paul Krugman's Inflation Statement Johns Hopkins University economics professor Steven Hanke criticized Nobel laureate Paul Krugman's statement that inflation is a "global phenomenon." Krugman argued that progressive Americans can be persuaded that the Biden administration has effectively managed the economy. Hanke disagreed with this perspective, questioning the idea that inflation is a global issue and emphasizing the importance of addressing domestic economic policies. Jim Grant, Fed Observer, Predicts Prolonged High Interest Rates Ahead of FOMC Meeting Market awaits the Dec. 13, 2023, Federal Open Market Committee (FOMC) meeting, speculating on Fed Chair Jerome Powell's stance on the current high benchmark interest rate. Jim Grant, of Grant's Interest Rate Observer, predicts prolonged high interest rates, saying they'll stay "higher for much, much, much, much longer." Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
