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Salon
Salon
Politics
Natalie Chandler

SHOCKING: Bitcoin slumps as fed signals caution - You Need To See This

Bitcoin, riding record highs following Donald Trump's embrace of the digital cryptocurrency, came back down to earth after Federal Reserve Chairman Jerome Powell said the central bank is not looking to hold it. 

Powell on Wednesday told reporters the Fed is "not allowed to own bitcoin," USA Today reported. He made the statements as he announced the final interest rate cut of the year and suggested fewer cuts next year.

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