Fed Official Addresses Growth of Cryptocurrency Trading Services by 2026

Institutional Moves in Cryptocurrency: JPMorgan plans to offer cryptocurrency trading services to institutional clients in 2026, marking a shift from its previously cautious stance. Charles Schwab and Vanguard are also expanding their cryptocurrency services, indicating a growing acceptance in the financial sector.

Fed Member's Insights on Inflation: Fed member Miran discussed recent inflation data, noting anomalies due to a government shutdown and suggesting that the current data should lead to a dovish stance. He does not foresee a recession soon but warns that failure to adjust policies could increase recession risks.

Market Reactions: Bitcoin's value has dipped below $90,000 as the U.S. market prepares to open, with weak expectations for a rate cut influencing market sentiment.

Future Economic Outlook: Miran highlighted that next year's tax refunds could provide economic revival, and he is still undecided on supporting a 25 or 50 basis point cut in interest rates.