Minneapolis Federal Reserve President Neel Kashkari says crypto is "95% fraud, hype, noise, and confusion." He added, "I've not seen any use case other than funding illicit activities like drugs and prostitution."
Since 2008, The Federal Reserve has eased financial conditions tremendously, helping boost prices to record highs. For example, commercial and residential housing prices are much higher than at the peak of the housing bubble in 2005.
The Fed has flooded the economy with epic amounts of money …
Federal Reserve Chairman Jerome Powell has called the risks emanating from “frothy” stock prices and other potential financial imbalances “manageable.” Some current and former central bankers are not so sure.
They worry that the Fed’s rock-bottom interest rates and massive bond buying might lead to asset price bubbles, and excessive risk-taking and leverage that could come back to haunt the economy.