Have you ever seen a news report mentioning that the Federal Reserve (the central bank in the U.S.) is changing interest rates? The Federal Reserve controls the interest rates which affect home loans and car loans and credit card repayments. The presentation kept my attention through nodding but I questioned how these economic changes would affect my personal finances and business operations and the national economy. The feeling of being different from others creates a sense of isolation. Central banking operations together with monetary policy implementation and economic expansion evaluation create a system which seems difficult to understand because of its technical language. The central bank holds the position of most dominant institution which directs the path of financial markets across the entire country. The policy serves two main purposes which include protecting inflation rates and determining mortgage qualification standards. This deep dive is your definitive roadmap to ...
The financial industry witnesses ongoing transformations as major players compete for dominance between traditional banking systems and cryptocurrencies. The growing digital revolution makes monetary leaders compete over a basic issue that determines which path will shape the future of finance. A detailed evaluation of their advantages and disadvantages will reveal the competitive dynamics between these systems . Round 1: Accessibility and Financial Inclusion People have relied on traditional banks to handle their money since time immemorial . Nevertheless , the system presents multiple obstacles. Millions of people worldwide lack sufficient access to banking institutions since they cannot use the formal financial system . The underdog cryptocurrency system emerges to deliver financial services across borders to people whom traditional banks do not serve . People who own smartphones and internet access gain entry to...