JPMorgan Chase's president says that crypto “is kind of irrelevant in the scheme of things' and the Fed isn't too hawkish. cryptocurrency recession inflation
JPMorgan Chase’s president that crypto “is kind of irrelevant in the scheme of things.” Commenting on the U.S. economy, he defended the Federal Reserve’s hawkish stance, emphasizing that if the Fed’s action “causes a slightly deeper recession for a period of time” then “that is the price we have to pay.”JPMorgan Chase President Daniel Pinto commented on the U.S. economy and cryptocurrency in an interview with CNBC, published Monday.
The JPMorgan president stressed that the Federal Reserve cannot allow inflation to become ingrained in the economy, emphasizing that a premature return to easier monetary policy risks repeating the mistakes of the 70s and 80s.Commenting on cryptocurrency, the JPMorgan executive claims that there is little progress recently in terms of the institutional adoption of crypto. Pinto said:
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