The Federal Reserve's Kashkari said very few transactions take place in cryptocurrencies, except for drugs or illegal activities.
The Federal Reserve's Kashkari said that bitcoin has been around for more than a decade, but it is still useless. Kashkari has publicly expressed skepticism about cryptocurrencies on several occasions, arguing that bitcoin and other cryptocurrencies are mainly used for speculation and illegal activities and lack intrinsic value.
Federal Reserve Kashkari: It is expected to cut interest rates by another 50 basis points in 2024, and cut interest rates twice by 25 basis points each time.