Fed's Kashkari: No use case for cryptocurrency

From breakingthenews.net

Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday that he is a "pretty big skeptic" on cryptocurrency, arguing that "nobody has found a legitimate use case" for it, apart from as an instrument of speculation and to circumvent bank regulations. Kashkari repeated that the Fed has made good progress on inflation but that there is "more work to do" to bring it down to the 2% target. He praised the resilience of the labor market in light of growing interest rates but cautioned that the Fed's "biggest challenge" is achieving price stability and warned that policy uncertainty is "complicating" its ... (full story)