Cryptocurrency Report
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Altcoin
  • Blockchain
  • Analysis
  • DeFi
  • NFT
  • ICO
  • Videos
What's Hot

Crypto exchange Hotbit says it froze customer funds due to alleged criminal ties of formal employee

August 11, 2022

SBI Group reports investee getting CFTC approval for OTC derivatives trading in US

August 10, 2022

Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada

August 10, 2022
Facebook Twitter Instagram
  • Advertise
  • Privacy
  • Contact
  • Terms
Facebook Twitter Instagram LinkedIn
Cryptocurrency Report
  • Home
  • News
    1. Bitcoin
    2. Ethereum
    3. Altcoin
    4. View All

    Galaxy Digital’s Novogratz Doubts Bitcoin Will Pass USD 30,000 Barrier Soon

    August 10, 2022

    Bitcoin and Ethereum Consolidate, ZEC and CEL Rally

    August 10, 2022

    Bitcoin, Surf & My Crackdown on Gangs Bringing More Tourists than Ever to El Salvador, Says Bukele

    August 10, 2022

    Bollywood-like Drama Erupts as CZ Moves to Distance Binance from India’s WazirX Exchange

    August 10, 2022

    Reddit Community Points Ready for the Ethereum Mainnet Move

    August 10, 2022

    ‘Most Significant Legal Action’ Against Crypto in US, Hodlnaut Halts Withdrawals, Zipmex Releases Ethereum & Bitcoin + More News

    August 9, 2022

    EthereumPoW Fork Won’t ‘Significantly’ Harm Ethereum – Vitalik Buterin

    August 9, 2022

    Justin Sun, Poloniex Back Plan to Create a PoW Ethereum Hard Fork

    August 9, 2022

    Hong Kong Police Publish Details of USDT Fraud Case in Effort to Raise Public Awareness of Crypto Scams

    August 10, 2022

    Bitcoin Tests USD 24K, Ethereum Eyes USD 1.8K, Altcoins Rally

    August 9, 2022

    Nomad Announces a Multimilion Bounty for ‘White Hats’, Says USD 20M Returned Already

    August 9, 2022

    Bitcoin and Ethereum Stuck in a Key Range, FLOW Surges Over 50%

    August 8, 2022

    Crypto exchange Hotbit says it froze customer funds due to alleged criminal ties of formal employee

    August 11, 2022

    SBI Group reports investee getting CFTC approval for OTC derivatives trading in US

    August 10, 2022

    Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada

    August 10, 2022

    Wealth managers and VCs are helping drive institutional crypto adoption — Wave Financial execs

    August 10, 2022
  • Blockchain
  • Analysis
  • DeFi
  • NFT
  • ICO
  • Videos

    The Crypto Metaverse is Growing RAPIDLY! (INSANE MICROSOFT BUY)

    January 18, 2022

    BEST Crypto Safety Guide 101 (Keep Your $$ SAFE with Passphrases)

    January 18, 2022

    SHOCKING: Microsoft Enters the CRYPTO METAVERSE!!! (HUGE $69 Billion CASH Buy)

    January 18, 2022

    URGENT NEWS For Cardano Holders!! (MUST Watch Before Jan 20)

    January 17, 2022

    ⚠️ WARNING To All Bitcoin Holders ⚠️ (Time is RUNNING OUT!!!)

    January 17, 2022
  • bitcoinBitcoin(BTC)
    $42,304.00-0.92% 24H
    BITCOIN
    24H : -0.92%
    Volume : $18,001,823,455.00
    Marketcap : $804,136,324,461.00
  • ethereumEthereum(ETH)
    $3,187.18-1.80% 24H
    ETHEREUM
    24H : -1.80%
    Volume : $11,828,130,842.00
    Marketcap : $383,283,409,099.00
  • tetherTether(USDT)
    $1.000.020% 24H
    TETHER
    24H : 0.020%
    Volume : $42,292,952,195.00
    Marketcap : $82,566,134,570.00
  • binancecoinBNB(BNB)
    $416.19-2.16% 24H
    BNB
    24H : -2.16%
    Volume : $1,421,783,549.00
    Marketcap : $69,948,357,062.00
  • usd-coinUSD Coin(USDC)
    $0.9980.110% 24H
    USD COIN
    24H : 0.110%
    Volume : $3,215,590,549.00
    Marketcap : $50,856,931,622.00
  • solanaSolana(SOL)
    $110.52-1.25% 24H
    SOLANA
    24H : -1.25%
    Volume : $1,326,948,052.00
    Marketcap : $36,230,891,086.00
  • rippleXRP(XRP)
    $0.744-2.62% 24H
    XRP
    24H : -2.62%
    Volume : $2,611,405,064.00
    Marketcap : $35,798,721,281.00
  • cardanoCardano(ADA)
    $1.02-1.97% 24H
    CARDANO
    24H : -1.97%
    Volume : $735,911,632.00
    Marketcap : $32,692,285,870.00
  • terra-lunaTerra(LUNA)
    $87.96-7.21% 24H
    TERRA
    24H : -7.21%
    Volume : $2,091,404,457.00
    Marketcap : $31,224,000,667.00
  • avalanche-2Avalanche(AVAX)
    $79.94-4.23% 24H
    AVALANCHE
    24H : -4.23%
    Volume : $651,461,780.00
    Marketcap : $21,345,345,382.00
  • polkadotPolkadot(DOT)
    $18.98-3.96% 24H
    POLKADOT
    24H : -3.96%
    Volume : $522,492,664.00
    Marketcap : $20,904,948,600.00
  • dogecoinDogecoin(DOGE)
    $0.147-0.35% 24H
    DOGECOIN
    24H : -0.35%
    Volume : $1,709,936,369.00
    Marketcap : $19,528,083,067.00
  • binance-usdBinance USD(BUSD)
    $0.9990.100% 24H
    BINANCE USD
    24H : 0.100%
    Volume : $3,031,521,102.00
    Marketcap : $17,907,585,119.00
  • terrausdTerraUSD(UST)
    $1.000.00% 24H
    TERRAUSD
    24H : 0.00%
    Volume : $710,407,989.00
    Marketcap : $16,759,326,710.00
  • shiba-inuShiba Inu(SHIB)
    $0.000024-0.91% 24H
    SHIBA INU
    24H : -0.91%
    Volume : $622,427,689.00
    Marketcap : $13,391,607,837.00
  • wrapped-bitcoinWrapped Bitcoin(WBTC)
    $42,263.00-1.06% 24H
    WRAPPED BITCOIN
    24H : -1.06%
    Volume : $205,987,180.00
    Marketcap : $11,648,041,723.00
  • crypto-com-chainCronos(CRO)
    $0.437-1.87% 24H
    CRONOS
    24H : -1.87%
    Volume : $43,191,918.00
    Marketcap : $11,045,868,142.00
  • nearNEAR Protocol(NEAR)
    $15.96-4.67% 24H
    NEAR PROTOCOL
    24H : -4.67%
    Volume : $1,001,407,008.00
    Marketcap : $10,603,423,829.00
  • staked-etherLido Staked Ether(STETH)
    $3,182.92-1.85% 24H
    LIDO STAKED ETHER
    24H : -1.85%
    Volume : $8,945,498.00
    Marketcap : $10,259,684,260.00
  • matic-networkPolygon(MATIC)
    $1.43-2.09% 24H
    POLYGON
    24H : -2.09%
    Volume : $379,202,804.00
    Marketcap : $9,786,905,958.00
Cryptocurrency Report
Home » IMF Warns of Dangers of Fed’s Rate Rise, Brazil Says Inflation ‘Won’t Be Temporary in West’
Bitcoin

IMF Warns of Dangers of Fed’s Rate Rise, Brazil Says Inflation ‘Won’t Be Temporary in West’

CryptoReporterBy CryptoReporterJanuary 21, 2022No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
Kristalina Georgieva. Source: IMF /YouTube

 

Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has warned that the Federal Reserve (Fed)’s next interest rate hike could “throw cold water on nations with high levels of dollar debt” – and their recovery from the COVID-19 pandemic’s economic fallout.

Georgieva was speaking at an event named “Global Economic Outlook” at the World Economic Forum in Davos, where she stated that the Fed was “acting responsibly” in its response to fast-growing inflation. 

She said that inflation was “turning into a social and economic concern” in the United States, but expressed concerns about countries with dollar debt and “low-income nations” – claiming that “such nations must act now” if they wanted to avoid the repercussions of a US rate hike.

Many forecasters have predicted the Fed will announce its decision to raise rates sometime next week, with the rate rise itself expected to take place in March.

The IMF chief praised central banks, claiming that they had “prevented a great depression” in their response last year, but stated:

“We need policy flexibility this year; 2022 will be like an obstacle course.”

She predicted that the global recovery would continue in 2022, although she said that “it is losing some momentum.”

But Georgieva conceded that “much more persistent than expected inflation” was now a problem, with “supply falling behind rising demand” and “supply delays caused by COVID-19,” as well as rising food prices caused by fuel price increases among other factors.

However, the picture was different in Brazil, where Paulo Guedes, the Minister of Economy warned that “the beast of inflation is out of the bottle” in the West, adding that inflation in North America and Western Europe “won’t be transitory.”

The IMF and Brazil are currently at loggerheads: last month, Guedes announced that Brazil intended to sack the IMF’s office in the nation after a row about estimates.

At the Davos event, Guedes explained:

“Brazil is possibly the only country that is back exactly where it was before the crisis […], because it did not allow temporary spending to become permanent.”

He claimed that while Brazil had moved faster to cut public spending back to pre-pandemic levels, other “central banks are sleeping at the wheel,” and concluded:

“Inflation will be a problem for the Western world.”

The discussion will likely have turned heads in the crypto world, as well as the world of finance, where tokens such as bitcoin (BTC) have been touted as inflation-proof assets that can perform the same function as commodities like gold.

Christine Lagarde, the President of the European Central Bank (ECB), speaking at the same event, hinted that the EU would look to be less aggressive in its response to inflation than the United States. She stated that the bloc was experiencing “demand that is not excessive,” “unlike the US,” adding that the EU labor market was not “experiencing anything like ‘the great resignation’ – and was thus “unlikely to face the same [inflationary] pressures as the US.”

As such, she hinted, the EU is set to keep its powder dry, claiming that “wages in the euro area are not [spiraling up],” and stating that as “we assume energy prices will stabilize in 2022,” “gradually inflation numbers will decline.”

Also in attendance were finance chiefs from Japan and Indonesia. Sri Mulyani Indrawati, the Indonesian Minister of Finance, noted that the “demand-driven recovery” the country is currently experiencing “is encouraging,” and claimed that the nation was “improving” its “investment climate.”

Haruhiko Kuroda, the Governor of the Bank of Japan (BoJ) claimed that the nation “expect inflation to be around 1% this year,” and would “continue” with a policy of low interest rates, stating:

“We are not afraid of inflation.”

____

Learn more:
– How Global Economy Might Affect Bitcoin, Ethereum, and Crypto in 2022
– Two Main Macro Scenarios in Play for Bitcoin & Crypto in 2022 – CryptoCompare

– Bitcoin, Ethereum Could Benefit If Stocks Drop After Fed Tightening – Strategist
– Eurozone’s Fiat Is Plunging – And Probably Won’t Bounce Back Soon

– Inflation Is the Biggest Test Yet for Central Bank Independence
– Arthur Hayes Tells Crypto Traders ‘It Pays to Wait,’ Stronger USD Coming

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Galaxy Digital’s Novogratz Doubts Bitcoin Will Pass USD 30,000 Barrier Soon

August 10, 2022

Bitcoin and Ethereum Consolidate, ZEC and CEL Rally

August 10, 2022

Bitcoin, Surf & My Crackdown on Gangs Bringing More Tourists than Ever to El Salvador, Says Bukele

August 10, 2022

Bollywood-like Drama Erupts as CZ Moves to Distance Binance from India’s WazirX Exchange

August 10, 2022

Big Week for Voyager Digital Clients as Cash Withdrawals About to Begin

August 9, 2022

Bitcoin and Ethereum Inch Higher, BNB and SOL Outperform, FLOW Rallies

August 9, 2022
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Crypto exchange Hotbit says it froze customer funds due to alleged criminal ties of formal employee

August 11, 2022

SBI Group reports investee getting CFTC approval for OTC derivatives trading in US

August 10, 2022

Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada

August 10, 2022

Subscribe to Updates

Get the latest sports news and analysis about crypto coins and the latest news about domains from Techie Memo.

Advertisement

Your number 1 source for all Cryptocurrency news and analysis. here you can follow all updates and latest rates for all currencies. Visit our about page for more information.

We're social. Connect with us:

Facebook Twitter Instagram YouTube LinkedIn
Top Insights

Crypto exchange Hotbit says it froze customer funds due to alleged criminal ties of formal employee

August 11, 2022

SBI Group reports investee getting CFTC approval for OTC derivatives trading in US

August 10, 2022

Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada

August 10, 2022
Get Informed

Subscribe to Updates

Get the latest sports news and analysis about crypto coins.

Facebook Twitter Instagram LinkedIn
  • Guest Post
  • Privacy Policy
  • Terms & Conditions
  • Contact
© 2022 Cryptocurrency Report. Designed by Sawah Dev.

Type above and press Enter to search. Press Esc to cancel.