Tag: Fed

Crypto prices swung as Fed chair Jerome Powell spoke about the pain of inflation in the US. The Fed remains committed to reigning in inflation, even if at some “unfortunate costs.” Federal Reserve chairman Jerome Powell spoke about FOMC’s future goals at the annual Jackson Hole symposium. He said that FOMC’s overarching directive remains to…

The Federal Reserve has hiked interest rates by another 75 basis points. This comes after inflation in the US had hit a 40-year high of 9.1% in June. The crypto market has rallied in response, despite the Fed’s repeated rate hikes are promoting concerns of a recession. Since Wednesday, US interest rates have returned to…

Bitcoin’s price fluctuated after the Federal Reserve announced further monetary tightening on June 15, falling to as low as $20,270 after the Fed’s statement. But an hour after the announcement, the cryptocurrency was traded at $21,444. As a long-awaited step, the Fed announced that it will raise the fed-funds rate, the interest rate at which…

Bitcoin’s price sank following the latest US Consumer Price Index (CPI) release, which showed that the index had unexpectedly hit 8.6%, reaching its highest level in 40 years. Despite economists’ expectation that the CPI figure to remain flat at 8.3%, the same as April, the Labor Department’s announcement on June 10 defied that inflation is…

The US Federal Reserve is starting paring back its $9 trillion balance sheet that ballooned in recent years in a move called quantitative tightening (QT). What will happen to the crypto markets when quantitative tightening takes full effect, and the Federal Reserve stops the money printer? Whether QT, starting on June 1, will put an…

Prices of Bitcoin and other cryptocurrencies are continuing their slide over the last two days, along with the stock market, as market analysts expect that the US Federal Reserve will raise interest rates soon to fight inflation. Bitcoin has slumped over 17% since December 27.   Bitcoin continues its slide Thursday after hawkish commentary from…