Arthur Hayes: Fed's RMP Program is 'Hidden Money Printing'
Arthur Hayes, co-founder of BitMEX, argues the Federal Reserve's new Reserve Management Purchases (RMP) program is a rebranded form of quantitative easing. Announced December 10, 2024, alongside a 25 basis point rate cut, the RMP involves purchasing ~$40B in short-term Treasuries.
While the Fed states RMP aims to maintain ample reserves, Hayes believes it's a way to finance government spending and inject liquidity, potentially benefiting assets like Bitcoin. He warns such policies can devalue currency and hinder economic output.
Bitcoin traded around $92,695 on the announcement day, but has since seen a correction. Market sentiment, via Polymarket, suggests a 77% probability of unchanged interest rates in January 2025. The future Fed leadership, with Jerome Powell's term ending May 2026, could also influence monetary policy.


Cryptovka
Arthur Hayes Claims Fed’s New RMP Tool is Hidden Money Printing
Arthur Hayes, the co-founder and former CEO of the BitMEX cryptocurrency exchange, has raised concerns regarding the Federal Reserve


















