Powell, The FOMC, And Crypto: The Message Everyone Missed
In a post on X on October 29, Quinn Thompson, CIO of Lekker Capital, argued that Jerome Powell’s post-FOMC messaging was less about macro uncertainty and more about pressure tactics aimed at the political apparatus — with direct consequences for crypto liquidity. Powell’s FOMC Comments Decoded Thompson wrote: “Powell appeared to be playing political games / posturing / CYA around the December verbiage, possibly to communicate to the admin to get the government reopened. It almost felt like a threat that if no data (due to continued government shutdown), then there won’t be a....
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On Wednesday, the Federal Open Market Committee (FOMC) and Fed chair Jerome Powell held a press conference concerning the American economy, the central bank’s plans to address inflation, and the ongoing Russia-Ukraine war. Powell announced that the FOMC decided to increase the benchmark bank rate by a quarter percentage point and further noted the Fed anticipates “ongoing increases…will be appropriate.” Federal Reserve Increases Benchmark Bank Rate For the first time since the onset of the Covid-19 pandemic, the Federal Reserve announced that it increased the....
Fed Chair Jerome Powell once again said the FOMC is committed to curbing inflation and promoting a strong labor market.
Federal Reserve Chair, Jerome Powell, discussed a number of topics this week such as inflation and central bank digital currencies (CBDCs) following the multi-day Federal Open Market Committee (FOMC) meetings. The central bank’s lead executive was asked about feverish stocks like Gamestop shares and the crypto asset dogecoin. Powell said that the Federal Reserve aims to provide financial stability but notes there are some things in capital markets that are a bit frothy. Fed Chair on Inflation: The committee Seeks Inflation Moderately Above 2% This week the FOMC meetings have shown....
The Bitcoin and crypto markets are experiencing a slight upswing today, with BTC and other major altcoins making gains. The main catalyst behind this uptrend appears to be yesterday’s Federal Open Market Committee (FOMC) meeting. At the time of writing, Bitcoin’s price is up by 0.8% in the last 24 hours, currently trading at $29,486. Despite facing resistance around the critical resistance area of $29,750, BTC has shown resilience and is attempting to reclaim its upward trajectory. Moreover, other major cryptocurrencies are also in the green, with Ethereum (+1.0%), XRP (+1.4%),....
The Bitcoin price has been moving sideways over the past two days, but market participants expect volatility over today’s trading session. The U.S. Federal Reserve (Fed) will announce another interest rate hike during its Federal Open Market Committee (FOMC) meeting. Related Reading: Litecoin Recovery To End Ongoing Crypto Darkness? LTCUSD November 2, 2022 At the time of writing, the Bitcoin price trades at $20,400 with sideways movement in the last 24 hours and a 2% profit over the previous seven days. In general, the crypto market is moving with the same sentiment except for Dogecoin....