Powell begs for Bitcoin, acknowledging inflation could be higher than expected

Federal Reserve Chairman Jerome Powell admitted that inflation could be higher than expected, leaving no alternative to Bitcoin. Below is an excerpt from the latest issue of Deep Dive, Bitcoin Magazine's premium markets newsletter. Sign up now to be one of the first to deliver these insights and other on-chain bitcoin market insights straight to your inbox. Here are some "highlights" from yesterday's Federal Open Market Committee (FOMC) meeting: POWELL: INFLATION MAY BE HIGHER AND PERMANENT THAN WE EXPECTED FOMC: FED CONTINUES ITS $80M TREASURY PURCHASE, $40M MBS FOCUS: MORE MONTHLY BONDS BUYING FROM KWELLER GOAL : EVEN AFTER REMOVAL, POLICIES REMAIN MORE ACCOMMODATION FOWELL: POINTS ARE NOT GREAT FOR FUTURE RATE, but inflation expectations say a little bit about inflation expectations. There's nothing to be said to escape the reality of the Federal Reserve's (along with other global central banks) situation. Total US debt/GDP is at a ridiculous 383% and the only way out of the debt crisis are: Austerity/Default (not possible) Overcoming debt (almost impossible) Fiscal pressure (trying) Fed is stuck on a rock and in a hard place. Total debt/GDP is 383%, the stock market is now 233% of GDP, and real returns are negative almost everywhere (ie the price of money is negative). However, the purpose of this Daily Dive is not simply to influence the actions of the Fed or any actor in the system in any way. The aim is to clarify why there is no alternative to Bitcoin. Learn more about why? You can find the rest of this Deep Dive song here.

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