The Breakdown Crisis Averted: Fed Vice Chair for Supervision Steps Down
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Jan 8, 2025 A major conflict at the Federal Reserve has been averted with Vice Chair Michael S. Barr's resignation. This raises questions about the Fed's independence during turbulent political times. Meanwhile, Bitcoin is making headlines with a return to $100,000, sparking bullish predictions that it could hit $200,000 by year-end. Investors eye crypto as a crucial hedge against economic uncertainty. Additionally, the changing political landscape in Canada toys with crypto's influence, as leaders adapt to shifting financial paradigms.
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Bitcoin Price Surge
- Bitcoin's price surged above $100,000, marking a 4% gain, its strongest since November.
- This suggests professional money managers are prioritizing Bitcoin allocations for the quarter.
Growing Investor Interest
- A Bitwise survey found 96% of investment advisors fielded Bitcoin questions from clients in 2024.
- This indicates significant investor interest and a potential influx of capital into Bitcoin.
Barr Steps Down
- Michael Barr stepped down as Fed's vice chair for supervision, averting a potential power struggle.
- Barr's resignation avoids a Supreme Court battle over the president's authority in the matter.