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Stock futures rose on Wednesday night after Federal Reserve chairman Jerome Powell provided an update on the central bank's plans to raise rates, saying there's «quite a bit of room» to do so before hurting the labor market.

The price of Bitcoin (BTC) has generally been declining since November, although the cryptocurrency's sharp price decline this week was likely triggered by rumors on Friday, Jan. 21, related to the U.S. regulation of digital assets.

During Jerome Powell’s Jan. 11 United States Senate confirmation hearings, Sen. Patrick Toomey posed a question to the incumbent-and-future Federal Reserve chief: “If Congress were to authorize and the Fed were to pursue a central bank digital dollar, is there anything about that that ought to preclude a well-regulated privately-issued stablecoin from co-existing with a central bank digital dollar?”

The paper, first trailed by Fed chair Jerome Powell last May, is the "first step in a discussion of whether and how a CBDC could improve the safe and effective domestic payments system," says the central bank.It was supposed to be published last summer but the Fed is determined to take its time on the issue despite some countries, most notably China, forging ahead with their CBDC plans.The paper rehearses established arguments for and against a digital dollar, including in relation to faster international payments and concerns about privacy and financial stability.The Fed is now seeking public comment on more than 20 questions, with submissions accepted for 120 days.While Powell has remained noncommittal on the chances of a digital dollar, others at the Fed have been less circumspect.

The Federal Reserve on Thursday released its long-awaited study of a digital dollar, exploring the pros and cons of the much-debated issue and soliciting public comment.

President Joe Biden will nominate Sarah Bloom Raskin to be the Federal Reserve's next vice chair for supervision, arguably the nation's most powerful banking regulator, according to people familiar with the matter.

The Federal Reserve is behind the curve when it comes to shrinking the balance sheet, according to UBS Global Wealth Management's Kelvin Tay. 

The Acting Comptroller of the Currency, Michael J. Hsu, highlighted the need for collaboration and coordination with large crypto intermediaries to better understand the risks within the growing $2 trillion cryptocurrency market. 

The White House has officially tapped former Fed governor Sarah Bloom Raskin to serve as the vice chair for supervision for the Federal Reserve, as well as economists Lisa Cook and Philip Jefferson to fill two empty seats on its board of governors.

On Monday, UK Parliament launched a cross-party group of MPs and Lords to cover the crypto and digital assets sector. The group is to act as a forum for parliamentarians, policymakers and the UK crypto sector to discuss policy and regulation in the industry. The news followed last week’s announcement that the New York State Department of Financial Services appointed former Promontory executive Peter Marton as deputy superintendent of virtual currency. Marton commented that “Crypto supervision should be a marathon and not a sprint, and I look forward to continue this effort in earnest.” Fed Chairman Jerome Powell also stoked excitement on Tuesday, stating that a highly anticipated report on cryptocurrencies and CBDCs will be released “within weeks” (though originally scheduled for a September 2021 release). Powell made the statement during a Senate Committee hearing, where Senator Pat Toomey also questioned whether the Fed has authority to act as a retail bank for Americans, asking: “It seems to me that there is absolutely nothing in the history, the experience, the expertise, the capabilities of the Fed that lends the Fed to being a retail bank. Is that a fair observation?” Powell responded: “I would say, yes.” Having previously stated that a CBDC would render privately issued stablecoins to become obsolete, he also told Toomey during the hearing that it is possible the two could co-exist.

At her confirmation hearing in front of members of the Senate Banking Committee, Federal Reserve board of governors member Lael Brainard said Congress would ultimately have to decide to move forward with a central bank digital currency, or CBDC.

Minnesota Representative Tom Emmer has announced he will be introducing a bill intended to prevent the Federal Reserve from acting as a retail bank in the potential issuance of a digital dollar.

The US Federal Reserve (Fed) Chair Jerome Powell discussed the central bank's COVID-19 response and financial stability, among other issues, during his re-nomination testimony on Tuesday in front of the Senate Banking Committee. He also made several comments that may potentially have an impact on the crypto market -- and here are the top 3 ones. 

Federal Reserve Chairman Jerome Powell said Tuesday the central bank is close to finalizing a broad revamp of its ethics rules prompted by criticism of officials’ financial transactions during the coronavirus pandemic.

Bitcoin price made a quick pop above $43,100 in the U.S. trading session but uncertainty is still the dominant sentiment among traders on Jan. 11 and bulls and bears are split on whether this week's drop to $39,650 was BTC's bottom. 

At his confirmation hearing in front of members of the Senate Banking Committee, Federal Reserve chair Jerome Powell said the agency would be releasing its report on cryptocurrencies “within weeks.”

Bitcoin (BTC) fell slightly into the Wall Street open on Jan. 11 after the largest cryptocurrency failed to crack resistance above $42,000, but fresh comments from U.S. Federal Reserve chair Jerome Powell appear to be providing a boost to markets.

Federal Reserve Chairman Jerome Powell is expected to win a second term leading the central bank but could face a grilling Tuesday at his Senate confirmation hearing, where he is likely to be pressed over how the central bank will tighten policy to combat inflation.

Federal Reserve Chairman Jerome Powell is expected to win a second term leading the central bank but must first face a grilling Tuesday at his Senate confirmation hearing after pivoting recently to tighten policy to combat inflation.

Stock futures moved lower early Monday after a rocky start to 2022 for equity markets as interest rates rise.

Federal Reserve Chairman Jerome Powell’s confirmation hearing and the latest readings on inflation highlight this week’s economic calendar.