Yellen Cryptocurrency Inflation and Valuation – WORLD
Yellen, who is in Bali for the G20 summit, said inflation will ease next year, but the global picture is unclear.Saying that many countries are facing high energy and food prices, Yellen said: “We also have problems with these issues, but our economy is strong and resilient. We continue to actively create jobs. The unemployment rate is at its lowest level in 50 years.
“Cryptocurrencies are risky and even dangerous”
Assessing the bankruptcy of FTX, one of the world’s largest cryptocurrency platforms, and the subsequent turmoil in the cryptocurrency markets, Yellen said that investing in financial products without “sufficient oversight” is “pretty risky.” investors and consumers should be very careful. Most of our financial markets have strong protective laws in place to protect investors and consumers. But regulation in the crypto space is not enough.” Noting that a lack of oversight and regulation played a role in FXT’s bankruptcy, Yellen said that cryptocurrencies are “extremely risky, and in some ways even dangerous assets.”
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