The real reason crypto hodlers should care about the Federal Reserve, April 28–May 4, 2022 By Cointelegraph

Spread the love

Crypto Biz: The real reason crypto hodlers should care about the Federal Reserve, April 28–May 4, 2022

Wall Street’s slow embrace of crypto means we all have to start watching the Federal Reserve again. Cointelegraph parsed through the latest Federal Open Market Committee (FOMC) policy statement on Wednesday to try and uncover some nuggets of useful information. You can think of it as an exercise in financial esoterics to uncover the hidden meaning behind the Fed’s decision-making. As it turns out, the decision to raise interest rates by 50 basis points was already expected, so the actual FOMC document provided very little new information. But, Fed Chair Jerome Powell sparked a late rally in crypto and stocks on Wednesday when he said 75 basis-point increases aren’t on the table.

You wanted the institutions to adopt crypto, didn’t you? Now, the asset class is trading almost in lockstep with other risk assets such as stocks, which means the Fed’s actions, words, intentions and expectations matter — at least for the foreseeable future.

Fed hikes interest rates by 50 basis points in effort to combat inflation

Coinbase’s plans to purchase firm behind Mercado fall through Report

Coinbase (NASDAQ:) took out the first Bitcoin-backed loan from Goldman Sachs (NYSE:)

MicroStrategy may explore ‘future yield generation opportunities’ on 95,643 BTC holdings

Don’t miss out on the most bullish cryptocurrencies!