Mike Novogratz says Jerome Powell is bad for the investment sector

Mike Novogratz says Jerome Powell is bad for the investment sector
фото показано с : invezz.com

2021-11-27 14:25

Mike Novogratz has stated that the Federal Reserve Chair, Jerome Powell, could slow down the crypto sector. He further noted that he was not pleased with the decision of the US president, Joe Biden, to pick Powell for a second term in office.

During an interview with CNBC, the Galaxy Digital CEI stated that he believed Powell did not have the political and economic state of the crypto state. He further noted that the rest of the market had negative views about Powell. 

Powell’s appointment is creating crypto bears

Novogratz also shared his thoughts on the crypto space, stating that the market has become bearish after Powell’s reappointment.

We have inflation showing up, you know, in pretty bad ways in the US. So, we can see, is the Fed going to have to move a little faster… That would slow all assets down. It would slow the Nasdaq down. It would slow crypto down if we have to start raising rates much faster than we thought.

The rising levels of inflation in the US have been attributed to the crypto bulls earlier this month. The inflation rate in the US is currently at a three-decade high, having increased 6.2% annually. The rising inflation is causing a ripple effect globally.

He stated that Powell’s second term could be marked with a strict policy, as he is not seeking another term; hence his job will not be at risk.

Novogratz as a crypto supporter

Novogratz is an agile supporter of the crypto space. He has been bullish about the crypto sector for both the short-term and the long-term. He is among the crypto supporters who supported that Bitcoin (BTC/USD) had the potential to reach $100,000.

In the recent CNBC interview, he further noted that the crypto space was growing due to an influx of institutional investors.

The amount of institutions Galaxy sees moving into this space is staggering. I was on the phone with one of the biggest sovereign wealth funds in the world today, and they’ve made the decision on a go-forward basis to start putting money into crypto.

However, Novogratz has been sceptical about non-fungible tokens (NFTs). He noted that the value of these tokens was “not normal” and that investors should take out profits and invest in Bitcoin and Ethereum.

The post Mike Novogratz says Jerome Powell is bad for the investment sector appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

President Trump (PRES) на Currencies.ru

$ 0.0091201 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 10.05 %
Cегодня L: $0.0091201 - H: $0.0091201
Капитализация $0 Rank 99999
Доступно / Всего 0 PRES

powell sector mike novogratz jerome pleased president

powell sector → Результатов: 8


US Fed Chair Jerome Powell Rules Out The Private Sector in Creation of a Digital Dollar

Jerome Powell, the U.S Fed Reserve Chairman, has said that private entities should not be part of the creation process of a digital dollar. Appearing before the House Financial Services Committee on June 17, the Fed Chair highlighted that monetary policy functions should be left to the central banks regardless of the operating ecosystems. On […]

2020-6-18 19:14