Jerome Powell, chairman of the Federal Reserve, told a Senate committee Wednesday that officials at the US central bank are watching the crypto market closely amid a period of heightened volatility. Powell's comments came in response to a question from Senator Kyrsten Sinema (D-AZ) about the impact of recent crypto market volatility on the Fed's operations, including any macroeconomic implications. Powell said the Fed is watching the ongoing situation "very carefully" but added that the US central bank is "not really seeing significant macroeconomic implications, so far." "But I think the principle implication is ... (full story)