Kevin Warsh: Fed Unwilling to Bail Out Cryptocurrency or Stablecoins

Odaily News: Federal Reserve Chairman Kevin Warsh stated at the House Financial Services Committee hearing on July 14 that the Fed has no intention of providing bailouts in the event of a run on the cryptocurrency or stablecoin market. Warsh said the Fed does not want to be in the bailout business, including for cryptocurrencies. The Fed held its benchmark interest rate in the range of 3.5% to 3.75% at its June meeting. Warsh also said the Fed has no room to tolerate persistently high inflation and is committed to restoring price stability. (Bitcoin.com News).