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As Inflation Keeps Rising in the US, Bitcoin Offers A Way Out

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  • It’s time to retire the word transitory when describing inflation, said Fed Chair Jerome Powell during Senate testimony on the economy today.
  • Powell explained its asset purchases could come to a halt earlier than planned next year.
  • Bitcoin offers the chance for people to opt-out of unpredictable monetary policies and eroding purchasing power.

Federal Reserve Chair Jerome Powell said the central bank’s asset purchases could end sooner than planned amid rising inflation rates and a more robust U.S. economy, reported Bloomberg. As inflation runs rampant, bitcoin comes to the rescue.

“It is appropriate, I think, for us to discuss at our next meeting, which is in a couple of weeks, whether it will be appropriate to wrap up our purchases a few months earlier,” Powell reportedly said Tuesday. “In those two weeks we are going to get more data and learn more about the new variant.”



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