The Fed Chair Just Said He Prefers Policy That Avoids Booms and Busts. Here's What That Could Mean for the Crypto Market.
If Fed Chair Warsh's outlook on crypto is anything like his preferences for the housing market, a lot could change, and soon.
Overview
New Federal Reserve Chair Kevin Warsh walked into two days of congressional testimony starting on July 14 and told lawmakers he wants to create monetary policy that stops causing cycles of booms and busts. And for a sector where leaders like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL) have all fallen by at least 39% during the past 12 months alone, not to mention experiencing face-melting rallies during the crypto bull markets, Warsh's comments could imply a total inversion of the usual state of affairs.
Warsh personally owns Bitcoin and has called it "an important asset" in the past. So is the most Bitcoin-friendly chair the Fed has ever had also going to be the one that ends the liquidity regime that crypto grew up with?
Image source: Official White House photo by Daniel Torok.
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Originally published at www.fool.com.