A reality of modern monetary policy is U.S. and foreign sovereign debts are more serviceable in a low rate environment. Real yields on Treasuries are negative and at record lows.There was a push in Washington to have monetary policy dove Lael Brainard replace Jerome Powell as Chair of the Federal Reserve. Compromise has her nominated for Vice Chair.The SEC under Chair Gary Gensler has taken direct regulatory action against new crypto asset products.Gensler hired a former banking and fintech staffer of crypto critical lawmakers Sherrod Brown and Maxine Waters to advise on crypto industry oversight.Chairs of the main money and banking committees of Congress have expressed views that crypto assets threaten the U.S. dollar and that blockchain technology will not enable an inclusive economy.
