neelkashkari

#NeelKashkari , president of the Federal Reserve Bank of #Minneapolis , offered a blunt take on digital assets, arguing that cryptocurrencies, including bitcoin BTC $67,255.48 and stablecoins, have yet to prove real utility.
Speaking at the 2026 Midwest Economic Outlook Summit in Fargo, North Dakota on Thursday, he contrasted the everyday utility of artificial intelligence (AI) tools with cryptocurrencies.
"Crypto has been around for more than a decade, and it's utterly useless," he said, while AI "has real long term potential for the U.S. economy."
After asking the audience who had used AI tools like ChatGPT or Gemini in the past week, Kashkari posed a second question: "raise your hand if you've bought or sold something with bitcoin."
When the discussion turned to payments and stablecoins, Kashkari said he’s unconvinced the technology improves on existing financial rails. "I hear these words and I like, it's just, it's like a buzzword salad," he said. "What can I do with the stablecoin that I can't do with Venmo today?"
Pressed on stablecoins being used for cheaper and faster cross-border payments, Kashkari argued that proponents quickly concede that those benefits aren’t aimed at U.S. consumers. While he admitted that adoption in emerging countries is rising, the said the tech still faces technical problems.
While stablecoin advocates promise instant transfers, he said, recipients still need to convert into local currency for everyday payments like buying groceries, which can be expensive.
Kashkari's skepticism stands in stark contrast to the Trump administration, which has increasingly championed bitcoin and U.S. dollar-backed stablecoins as key strategic tools.
Treasury Secretary #ScottBessent argued that regulated stablecoins can extend the greenback’s dominance in global payments and reinforce its status as the world’s reserve currency, strengthening U.S. financial influence. President Trump also signed an executive order in March to create a strategic bitcoin reserve, which Bessent was an advocate for.
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A new report from PANews says the year is starting with geopolitical shockwaves, including claims of U.S. military action involving Venezuela and the reported capture of President Maduro. This is not officially confirmed in the post, so treat it as a high-impact headline risk rather than settled fact. Geopolitics like this can quickly spill into oil, EM FX, risk sentiment, and crypto volatility. ⚠️
At the same time, traders are staring at a stacked U.S. calendar — with labor data taking center stage. 📊Key Events to Watch This Week 🗓️(Times below are as listed in the original summary—double-check your platform’s timezone.)Monday01:30 — Neel Kashkari (Minneapolis Fed, 2026 voting member) speaks at the American Economic Association 🎙️Tuesday21:00 — Thomas Barkin (Richmond Fed, 2027 voting member) speaks 🎙️Jan 6–9CES 2026 (Las Vegas) — “Tech Spring Festival” vibe: watch AI/semis, risk sentiment, and tech-linked narratives 🖥️🚀Wednesday21:15 — U.S. ADP Employment (Dec) 👥Thursday20:30 — Challenger Job Cuts (Dec) ✂️21:30 — Initial Jobless Claims (week ending Jan 3) + Trade Balance (Oct) 📄Friday00:00 — NY Fed 1-year inflation expectations (Dec) 🔥21:30 — Non-Farm Payrolls + Unemployment Rate (Dec) + housing data 🏠23:00 — Kashkari remarks + University of Michigan consumer sentiment (prelim) + inflation expectations 🧠@CRYPTO_THINKS Why Markets Care 🎯Geopolitics can trigger fast repricing (especially energy + risk-off flows). 🛢️🌪️Jobs + inflation expectations shape rate cuts/hikes pricing → moves DXY, yields, equities, and crypto. 💵📈₿Stay alert for headline whipsaws and let the data confirm the narrative.
#macroeconomic #NeelKashkari