Current trend: Representations of virtual currency bitcoin on US dollar banknotes. Central banks in China and Sweden are serious in planning to introduce currencies in electronic form for retail use. — Reuters
INFLATION is coming. Or wait, it’s already here. Bond investors are looking at the 4.2% annual rate that US consumer prices jumped to in April and wondering if it’s all because of depressed levels from last year. Could it be that the Federal Reserve is wrong about higher prices being transitory?
In that case, the Fed and other central banks may have to rethink, among other things, their space-race-type competition to offer digital cash.
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