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FameEX Morning Crypto News Recap | December 12, 2023
2023-12-12 12:02:25
Legal Analyst Accuses Senator Elizabeth Warren and SEC Chair Gary Gensler of Collusion, Hinting at Oath Violation
Attorney John Deaton has accused Senator Elizabeth Warren of violating her Senate Banking Committee oath by allegedly conspiring with SEC Chair Gary Gensler. Deaton claims that rather than fulfilling her oversight duties, Warren provided Gensler with predetermined questions and suggested answers for a hearing, undermining her role as a committee member.
Bank of Russia Extends Digital Ruble Pilot Until End of 2024
The Bank of Russia has extended its digital ruble pilot program until the end of 2024, with the aim of achieving widespread adoption of the digital ruble by 2025. This decision is in line with Russia's strategy to advance its central bank digital currency (CBDC) and modernize its financial infrastructure.
Vivek Ramaswamy Slams SEC Chair Gary Gensler, Urging Regulatory Reform Presidential candidate Vivek Ramaswamy sharply criticized the U.S. Securities and Exchange Commission (SEC) and its chair, Gary Gensler, for their lack of action in addressing fraud cases within the crypto industry. Ramaswamy emphasized the need for regulatory reforms, pointing to these cases as evidence of the current regulatory framework's inadequacy. World Gold Council Predicts Steady Performance in 'Soft Landing' Scenario The World Gold Council (WGC) anticipates consistent demand for gold in a "soft landing" scenario. However, it remains cautious about the potential for a recession, citing historical data showing that the U.S. Federal Reserve has achieved soft landings in only two out of nine tightening cycles, suggesting ongoing economic uncertainty. Economist Steve Hanke Criticizes Nobel Laureate Paul Krugman's Inflation Remark Johns Hopkins University economics professor Steven Hanke criticized Nobel laureate Paul Krugman's assertion that inflation is a "global phenomenon." Krugman suggested that progressive Americans can still be convinced of the Biden administration's effective economic management. Hanke disagreed, challenging the notion of global inflation and emphasizing the need to focus on domestic economic policies. Jim Grant, Fed Watcher, Anticipates Extended Period of Elevated Interest Rates Prior to FOMC Gathering As the December 13, 2023, Federal Open Market Committee (FOMC) meeting approaches, there's much speculation surrounding Fed Chair Jerome Powell's position on the prevailing high benchmark interest rate. Jim Grant, known for his work in Grant's Interest Rate Observer, anticipates a prolonged period of elevated interest rates, foreseeing them enduring for an extended time. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
