The top stories and best shows in the blockchain world, delivered daily from the team at CoinDesk.
Last October, Ikigai Asset Management’s Travis Kling predicted that Central Banks would have to “juice QE to infinity” in order to save markets from recession. Yesterday on 60 Minutes, Fed President Neel Kashkari said “there is an infinite amount of cash at the Federal Reserve. We will do whatever we need to do to make sure there is enough cash in the financial system.”
This was followed this morning by an announcement that the Fed was giving itself effectively unlimited capacity to intervene in markets. Markets were...still not impressed. In less than two hours, an initial gain had entirely retraced.
On this episode of The Breakdown, @NLW looks at:
- Specifics details of the Fed Announcement
- Why FinTwit and Bitcoin Twitter are focusing on inflation
- Why some think that this action amounts to a nationalization of markets
- How the ‘money printer go brrr’ meme is taking hold