# Сопутствующие статьи по теме Monetary Policy

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Monetary Policy", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

IMF Warns Dollar-Linked Stablecoins Could Undermine Central Bank Control

The International Monetary Fund (IMF) warns that the widespread adoption of dollar-linked stablecoins could undermine central banks' control over monetary policy. In a recent report, the IMF states that most major stablecoins are not truly independent and are essentially extensions of the U.S. dollar system, as they are backed by short-term dollar instruments like U.S. Treasury bills. This could lead to the creation of a "private dollar warehouse" system that operates outside the traditional banking sector. The growth of stablecoins, which now represent hundreds of billions of dollars, may complicate central banks' ability to manage money supply and conduct monetary policy. In countries with weak currencies, stablecoins could even replace local money. The IMF also highlights that cross-border stablecoin transactions pose risks to capital controls and foreign exchange stability, as they often operate without deposit insurance or a lender of last resort. The report calls for international regulatory cooperation to establish common rules and closer supervision to ensure financial stability.

TheNewsCrypto02/16 11:09

IMF Warns Dollar-Linked Stablecoins Could Undermine Central Bank Control

TheNewsCrypto02/16 11:09

Kansas City Fed President Jeffrey Schmid Takes a Dig at Rate Cut, Will Cryptocurrencies Benefit?

Kansas City Federal Reserve President Jeffrey Schmid supports maintaining the current lending rate, citing strong economic growth and persistent inflation. He argues that keeping rates high is necessary to curb spending and prevent inflation from rising further. Recent positive job data, including a drop in unemployment, supports the likelihood of a rate pause in the upcoming March 2026 meeting. While lower interest rates typically encourage investment in riskier assets like cryptocurrencies, the current high-rate environment may lead investors toward safer alternatives. Major cryptocurrencies such as Bitcoin and Ethereum are currently trading below key thresholds, though some institutions remain optimistic about the sector's long-term prospects.

TheNewsCrypto02/12 12:43

Kansas City Fed President Jeffrey Schmid Takes a Dig at Rate Cut, Will Cryptocurrencies Benefit?

TheNewsCrypto02/12 12:43

Lyn Alden Says Fed Entering ‘Gradual Print’ Era of Monetary Policy

Economist Lyn Alden states the U.S. Federal Reserve is entering a "gradual print" monetary policy phase, characterized by steady liquidity increases tied to bank asset growth or nominal GDP. This measured approach, differing from traditional quantitative easing, aims to support asset prices mildly without broad stimulus. Alden suggests high-quality and scarce assets may benefit, while cautioning against overheated market sectors. The policy occurs amid mixed signals from the Fed, reduced rate cut expectations, and upcoming leadership uncertainty. This liquidity infusion may stabilize credit and indirectly benefit assets like Bitcoin, though effects are expected to be moderate rather than dramatic.

TheNewsCrypto02/09 08:17

Lyn Alden Says Fed Entering ‘Gradual Print’ Era of Monetary Policy

TheNewsCrypto02/09 08:17

Macro Research Report on the Crypto Market: Under the Warsh Effect, a Tightening Cycle Approaches—How Will Crypto Assets Be Priced?

The crypto market faces a paradigm shift following the nomination of Kevin Warsh—a known monetary policy hawk—as the next Fed Chair. Termed the "Warsh Effect," this event triggered sharp declines across major cryptocurrencies and massive outflows from Bitcoin ETFs, signaling a structural repricing of crypto assets. The core shift moves from a narrative where crypto served as an inflation hedge to one where it is increasingly treated as a high-beta risk asset, highly sensitive to interest rates and liquidity conditions. Under a tightening regime led by Warsh, crypto valuations will be driven by three key factors: liquidity conditions (40% weight), real interest rates (35%), and risk appetite (25%). Historical analysis shows that during past tightening cycles, crypto exhibited delayed but severe corrections, increased correlation with tech equities, and internal divergence—where assets with real cash flows and utility outperform speculative tokens. In this new paradigm, Bitcoin is now more influenced by macro liquidity and institutional flows than its original "sovereign-free store of value" narrative. Investors must adjust frameworks: treat crypto as high-risk growth assets, implement dynamic hedging strategies, and focus on tokens with sustainable fundamentals. The era of easy liquidity is over—value will be dictated by real-world utility and macroeconomic discipline.

marsbit02/05 07:49

Macro Research Report on the Crypto Market: Under the Warsh Effect, a Tightening Cycle Approaches—How Will Crypto Assets Be Priced?

marsbit02/05 07:49

The Kevin Warsh Era Begins: Which Assets Will Rise?

The appointment of Kevin Warsh as the new Federal Reserve Chair signals a major shift in monetary policy and institutional priorities, centered on AI-driven fiscal discipline and government efficiency. Warsh views inflation not as a result of wage growth but as a consequence of fiscal excess and government waste. AI, particularly through companies like Palantir, is seen as a key tool to combat fraud, reduce inefficient spending, and boost productivity, thereby acting as a deflationary force. Palantir is already being used by federal agencies like the SBA and Fannie Mae to detect and prevent fraud, indicating a structural move towards greater transparency and accountability. This shift is expected to benefit assets tied to AI and semiconductors, banking, small-cap stocks, and cryptocurrencies like Bitcoin, which Warsh endorsed as "the new gold" for younger generation. Conversely, metals like gold and silver may face pressure due to a stronger dollar and reduced monetary easing, while renewable energy sectors could lose policy support. Globally, economies aligned with AI and tech exports (e.g., Japan, South Korea) may resilience, whereas emerging markets and China could struggle with dollar strength and tighter liquidity. The new policy mix—potential rate cuts coupled with balance sheet contraction—creates a unique environment where traditional labels like "hawkish" or "dovish" no longer apply, emphasizing instead structural changes over cyclical moves.

marsbit02/03 03:01

The Kevin Warsh Era Begins: Which Assets Will Rise?

marsbit02/03 03:01

The Era Without Good Answers: Understanding Warsh, Trump, and the Next Four Years of a New Era

The article "An Era Without Good Answers: Understanding Warsh, Trump, and the Next Four Years" analyzes the potential implications of Kevin Warsh becoming the next Federal Reserve Chair under a Trump administration. It argues that Warsh represents not just a shift from dovish to hawkish policy, but a fundamental redefinition of the Fed's role. His appointment signals a move away from the Fed acting as a perpetual backstop for markets and government debt—a role perfected by Chair Powell during crises like the pandemic. Instead, Warsh advocates for monetary and fiscal discipline, opposing unconditional quantitative easing and emphasizing market rules over intervention. However, the US economy's reality—characterized by massive debt, deficit spending, and market dependence on low rates—severely limits any radical change. Warsh's proposed policies of raising rates and reducing the Fed's balance sheet risk triggering market volatility, higher borrowing costs, and political backlash, likely forcing a retreat to familiar stimulus measures. From Trump’s perspective, Warsh is a "controllable reformer" who can publicly push for fiscal restraint, forcing Congress to address unsustainable spending—while also serving as a convenient scapegoat if reforms fail. Ultimately, the core constraint remains America’s debt-dominated economy, which eliminates any possibility of a definitive solution. The coming years will involve managing, not solving, these problems through a painful and iterative process of half-measures and trade-offs—a era defined not by prosperity, but by the explicit return of economic constraints.

marsbit02/02 10:05

The Era Without Good Answers: Understanding Warsh, Trump, and the Next Four Years of a New Era

marsbit02/02 10:05

Three Key Changes: Analyzing the Impact of New Fed Chair Kevin Warsh on the Crypto Market

Kevin Warsh's nomination as the new Federal Reserve Chair marks a potential shift in U.S. monetary policy, with significant implications for the crypto market. Warsh, a former Fed governor and critic of quantitative easing, advocates for a "limited central banking" approach, prioritizing price stability and financial system integrity over aggressive stimulus. His proposed policy mix—simultaneous interest rate cuts and balance sheet reduction—aims to ease government debt pressure while avoiding inflation resurgence. Warsh’s relationship with former President Trump, facilitated by family ties and shared critiques of the Powell-era Fed, adds a layer of political complexity. However, Warsh has historically emphasized Fed independence, creating tension between political expectations and his policy framework. For crypto markets, Warsh’s policies could bring short-term gains from rate cuts but long-term headwinds from sustained quantitative tightening (QT). This may reduce market liquidity, suppress asset valuations, and dampen volatility. Additionally, Warsh’s regulatory stance may accelerate crypto compliance, favoring established assets like Bitcoin and Ethereum while squeezing out riskier altcoins. The era of "policy-driven" crypto rallies may fade, giving way to fundamentals-based investing. Institutional adoption may grow, while retail speculation declines. Investors should focus on long-term value drivers—such as adoption cycles and technological upgrades—rather than short-term Fed policy shifts.

marsbit01/31 10:45

Three Key Changes: Analyzing the Impact of New Fed Chair Kevin Warsh on the Crypto Market

marsbit01/31 10:45

Trump nominates Kevin Warsh as Fed chair, crypto markets react to potential policy shift

President Trump has nominated former Federal Reserve governor Kevin Warsh to succeed Jerome Powell as Fed Chair, effective upon Powell's term expiration in May 2026, pending Senate confirmation. Warsh, who served from 2006 to 2011, is known for his views on monetary policy and financial stability. Markets reacted immediately, with Bitcoin falling around 2% to near $81,000–$82,000, gold dropping roughly 5%, and equities declining amid expectations of a more hawkish stance. Analysts suggest a Warsh-led Fed may resist rapid rate cuts or balance sheet expansion, potentially leading to tighter liquidity and higher risk premiums for crypto and other risk assets. The confirmation process and ongoing policy uncertainty are likely to continue influencing market sentiment.

ambcrypto01/30 17:17

Trump nominates Kevin Warsh as Fed chair, crypto markets react to potential policy shift

ambcrypto01/30 17:17

Kevin Warsh: Inflation is a 'Choice', I View Bitcoin as an Important Asset

Kevin Warsh, former Federal Reserve Governor during the 2008 financial crisis, argues that inflation is a deliberate "choice" made by policymakers, not an unavoidable phenomenon. In a discussion with Peter Robinson, Warsh criticizes the Fed for failing its core mandate of ensuring price stability, blaming recent high inflation on the central bank's actions rather than external factors like supply chains or geopolitical events. He emphasizes that the Fed possesses the tools to control inflation but has instead enabled excessive government spending and expanded its role beyond its original purpose. Reflecting on his time at the Fed, Warsh supported the aggressive liquidity measures during the 2008 crisis as necessary to restore market function but opposed later rounds of quantitative easing (QE), which he believed created a "free lunch" mentality and blurred the lines between monetary and fiscal policy. He expresses concern over the Fed’s bloated balance sheet, now around $7 trillion, and argues that reducing it would help lower inflation and interest rates. Warsh also discusses Bitcoin, which he views not as a threat to the dollar but as an important asset that holds policymakers accountable. He believes the U.S. can overcome its fiscal challenges through higher economic growth and productivity, particularly driven by AI, and calls for a return to the Fed’s original mission: to act sparingly and only in genuine emergencies.

marsbit01/30 09:17

Kevin Warsh: Inflation is a 'Choice', I View Bitcoin as an Important Asset

marsbit01/30 09:17

Crypto markets hold steady after Powell reiterates data-dependent stance

Cryptocurrency markets showed limited reaction to Federal Reserve Chair Jerome Powell's remarks, as he reiterated the central bank's data-dependent stance after holding interest rates at 3.50%–3.75%. Powell emphasized that monetary policy is not on a preset path, with future decisions relying on economic data and inflation trends. The total crypto market cap excluding stablecoins held near $2.7 trillion, reflecting continued consolidation below key moving averages. Trading volume remained subdued, indicating constrained risk appetite amid ongoing macro uncertainty. Investors appear to await stronger confirmation of sustained inflation decline before increasing exposure.

ambcrypto01/28 21:32

Crypto markets hold steady after Powell reiterates data-dependent stance