The Federal Reserve in New Manager
For its Retail Payments section, the Federal Reserve is searching for a new manager in Washington, D.C. On November 3, the U.S. central bank revealed that they are hiring a manager. And that person will contribute to the research of digital currencies, stablecoins, and distributed ledger technologies.
The newly hired manager will surely be the one to take on principal duties and responsibilities. Aside from that, the position requires the manager to advertise and contribute to the development and institution of new policies, regulations, and research. These are all under the retail payment systems.
Moreover, the manager will also be a part of the Retail Payments section. Moreover, part of the work is to supervise the Federal Reserve Bank’s check and automated clearinghouse services. Facilitating research in retail payments innovation and addressing policy and regulatory issues about retail payment systems are also part of the job.
Also, the maximum salary grade listed is federal grade 29. This means that the Federal Reserve is willing to pay at least $250,700 per year.
In the previous month, two members of the U.S. House of Representatives Financial Services Committee had a question to the Federal Reserve. They asked if there are any plans to launch a U.S. dollar digital currency. Additionally, they also showed their worries regarding the importance of the U.S. dollar leading to jeopardy from the broad adoption of digital fiat currencies.
The central bank recently expanded the role of its Retail Payments manager to add digital currencies, stablecoins, and distributed ledger technologies. As a result, it might lead to a sign that the Federal Reserve is at least looking for the possibility.
Bitcoin Price
Moving onto Bitcoin (BTC), reports show it became trapped between key moving averages and under weekly resistance on the daily chart. The 4-hour chart Bollinger Bands cleared out the extent of the tightening on price action.
Recently, the bulls are pushing the price across the 20-period moving average, which is a bullish sign. Mainly, the Bitcoin price is mostly ranging between highs of $9,350 and lows of $9,050.
