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Crypto markets were volatile in the wake of the Federal Reserve's decision. Bitcoin dropped below $19,000 but soon rebounded to $19,500, then slid to $18,900. Equities also saw wild swings during Powell's press conference. At press time, the S&P 500 and Nasdaq traded at around where they opened on Wednesday. Source
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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says the Federal Reserve will destroy the U.S. economy with interest rate hikes. He advises people to invest in “real money,” naming bitcoin as an example. Robert Kiyosaki on Fed Rate Hikes, U.S. Economy, Bitcoin The author of Rich
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As such, the ECB's latest move demonstrates that global liquidity tightening is in full swing, which weakens the case for bullish revival in risk assets, including cryptocurrencies. Later this month, the Fed is expected to deliver its third 75 basis point hike – with the U.S. agency’s previous hikes contributing
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Philadelphia Fed President Patrick Harker told CNBC that the decision on whether to tighten 50 or 75 basis points depends on the next inflation reading on Sept. 13. “I think we have to recognize that a 50 basis point move is still a substantial move, so whether it’s 50 or
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The FOMC boosted the interest rate by a robust 75 basis points in July as part of its hawkish monetary campaign to tame inflation, which has hit a four-decade high. The committee, which meets regularly to set U.S. monetary policy, is widely expected to increase the rate by a similar
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“I expect that we will be increasing rates the rest of this year and into next year to make sure inflation gets back to our 2% objective,” Evans said during an event hosted by Drake University in Des Moines, Iowa, on Wednesday. While inflation did slow a bit, the pace
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Federal Reserve Governor Michelle Bowman says she supports ongoing 75 basis point interest rate hikes “until inflation is on a consistent path to significantly decline,” citing “a significant risk of high inflation into next year for necessities including food, housing, fuel, and vehicles.” The Fed governor also noted that crypto
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"Recent indicators of spending and production have softened," said a statement by the Federal Open Market Committee (FOMC), a group of 12 Fed officials who set the Fed’s monetary policy. "Nonetheless, job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting
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"There is no doubt that Powell will pivot, but the pivot will not be this year, at least until November, and there will be no significant reduction in rate hikes (like 25 bps). The reason is that the Biden administration needs the Fed to join them in expressing its determination
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No clear buy signal emerged for bitcoin and a poor macroeconomic situation still dominates, one analyst said. Source
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