American Federal Reserve member Kashkari: Bitcoin is still worthless.

The member of the Federal Reserve Bank of Minneapolis, Neel Kashkari, confirmed on Monday evening the central bank's policy of relying on incoming economic data. He also indicated a continuous decline in inflationary pressures, stating that the U.S. labor market remains healthy despite the rising overall unemployment rate.

The Federal Reserve member made the following statements:

• The Federal Reserve has made progress in the fight against inflation, and the labor market remains strong.
• China is not a significant competitor to the United States.
• Not interested in replacing the yuan with the dollar as a global reserve currency.
• The competitiveness of the United States is strong, but it cannot be assumed.
• A decrease in labor demand could lead to an increase in unemployment.
• Bitcoin remains worthless after twelve years.
• The neutral interest rate is likely to be higher than the levels seen before the COVID-19 pandemic.
• If U.S. debt continues to rise, the neutral interest rate will also increase.