Tyler Williams, head of public policy at Galaxy, discusses national politics, bitcoin policy, and the upcoming election in Washington. Beimnet Abebe talks about markets. Topics include inflation, consumer behavior, Bitcoin price rally, digital asset policy debates in Washington, and legislative opportunities amidst the political landscape.
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Quick takeaways
Inflation rise impacting consumer behavior, potentially slowing down spending habits.
Legislative agenda in Washington includes stablecoin regulations, illicit finance initiatives, shaping digital asset market.
Deep dives
Inflation Concerns and Impact on Fed Policy
Recent CPI reports indicate a rise in inflation, particularly in areas like car insurance and healthcare. The data suggests that inflation might be higher than expected. Consequently, the market is adjusting its expectations for cuts in interest rates, with treasuries reacting by almost a full cut in rates.
Consumer Behavior and Inflation Impact
Rising prices, especially in everyday goods like groceries and healthcare, are affecting consumer behavior. People are adjusting their spending habits due to escalating prices. Increased inflation, coupled with reduced savings rates, is likely to slow down consumer spending. Companies oriented towards consumers are already indicating a slowdown due to inflation.
Legislation and Regulation Focus in Washington
Washington's legislative agenda includes topics like financial services, cannabis business banking, and digital asset market regulations. Stablecoin legislation is a focal point, with debates on the regulation of stablecoin issuers. Initiatives targeting illicit finance and AML reforms are gaining momentum, setting the stage for future legislative progress in the digital asset space.
Alex Thorn talks with Tyler Williams, head of public policy at Galaxy, about the state of affairs in Washington regarding national politics, bitcoin and crypto policy, and the upcoming election. Alex also talks with Beimnet Abebe (Galaxy Trading) about markets.
This episode was recorded on Wednesday, April 10, 2024.
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