The world of financial services is always evolving, but recently there are signs of a seismic shift. At the heart of this transformation is the rise of cryptocurrencies. Digital assets like Bitcoin, Ethereum, and a host of others – including stablecoins – have moved from the fringes of the financial system to the forefront, capturing the attention of investors, regulators, and, increasingly, traditional banks. As the cryptocurrency market continues to mature, one question that is becoming increasingly urgent to answer is whether banks in the United States should be permitted to own cryptocurrencies. If banks are to remain relevant in…

After next week’s Federal Reserve Board meeting, Fed head Jerome Powell will hold his customary press conference for reporters who cover this powerful institution. But there are fundamental questions that get to the guts of how the Fed operates and the assumptions it holds about money, which guide its decision-making, that don’t get asked. This episode of What’s Ahead reveals several of the key questions that should be asked. Follow me on Twitter. Send me a secure tip. Read the full article here

Bank executives are sounding the alarm about a weakening economy, and everyone should be taking them seriously. In the last few days, BNP Paribas, Citicorp, Goldman Sachs, HSBC, JPMorgan and Morgan Stanley have all announced either that the probability of a recession is rising or that they are downgrading American stocks from Overweight to Neutral. It is understandable that the stock market is a big focus, because we can easily see how the escalating trade war and layoffs are affecting stock prices on a second-by-second basis. Stock market indices are leading indicators of where investors presently think the economy is…

The world of financial services is always evolving, but recently there are signs of a seismic shift. At the heart of this transformation is the rise of cryptocurrencies. Digital assets like Bitcoin, Ethereum, and a host of others – including stablecoins – have moved from the fringes of the financial system to the forefront, capturing the attention of investors, regulators, and, increasingly, traditional banks. As the cryptocurrency market continues to mature, one question that is becoming increasingly urgent to answer is whether banks in the United States should be permitted to own cryptocurrencies. If banks are to remain relevant in…

Buried in a footnote of a nearly five-year-old regulatory letter, IL 1170, the national banking regulator, the Office of the Comptroller of the Currency (OCC), opened the door for national banks to participate in the cryptocurrency marketplace. The potential to modernize the financial services system and to provide a safe environment for customers to transact in cryptocurrency was never realized because the banking regulatory agencies under the Biden administration, while never retracting the letter, essentially refused to acknowledge the existence and validity of that official publication, IL 1170. Fast forward to March 7, 2025, and the OCC’s new publication, Interpretive…

The U.S. job market has taken a very worrisome turn for the worst. Data released by global outplacement and business and executive coaching firm, Challenger, Gray, and Christmas Incorporated, shows that in just the first two months of this year, 221,812 Americans have lost their jobs. These job cuts are 33% higher than for the entire 12 months of 2024. February’s layoffs were the highest monthly job cuts level since July 2020, when factories and offices globally were being forced to shut because of the severity of the Covid pandemic. In recent decades, the only February that was worse for…

Digital assets, beginning with cryptocurrency and evolving rapidly to include tokenized forms of money and financial instruments, have been with us for well over a decade now. In the beginning they existed on the fringes of established financial systems, but as the world slowly became more accustomed to them, and as they evolved to include central bank digital currencies (CBDCs) and stablecoins, this changed. Stability and utility allowed for a genuine appreciation of the benefits that the underlying technology enables: efficiency, accessibility, transparency, security, and always on availability. So much progress has been made that we are no longer the…

A slew of economic data is signaling that a Trumpcession is around the corner. The impending economic contraction, and possibly a recession, is primarily being caused by Trump’s tariffs and the chaotic lay-off of federal workers. Additionally, deportations of undocumented immigrants, as well as the fear thereof, is causing significant uncertainty in several important economic sectors such as construction, farming, hospitality, poultry, and small businesses. On Monday, a closely watched model of Gross Domestic Product level, the Federal Reserve Bank of Atlanta’s GDPNow, estimated significant decline of 2.8% in annualized growth for this quarter. This is a sharp contrast from…

In my last column, I likened artificial intelligence to the wizard in “The Wizard of Oz.” It received a good reaction so I wanted to continue with the theme of Hollywood movies— and look at how companies can help offset the huge cost of artificial intelligence adoption by joining forces with technology providers and other potential partners. Since it’s Oscars season, I thought I’d find a contender for best picture that could work as a metaphor. I looked through the nominees: “The Substance?” No, AI adoption should not be a horror show. “Conclave?” No, with AI strategies, it’s better to…

In a stunning decision that could redefine the financial landscape of the United States, President Donald Trump announced today the formation of a U.S. Crypto Strategic Reserve. This move signals a dramatic shift in the government’s stance on digital assets, integrating major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, and Cardano (ADA) into the country’s financial infrastructure. The announcement immediately sent shockwaves through the crypto market, with prices soaring as investors reacted to the news. A Bold Move Toward Digital Finance With A Crypto Reserve The decision to establish a national reserve of cryptocurrencies represents an acknowledgment of the…