) slipped to $1,495 per coin. Amid the crypto economy rout, Wall Street is suffering as well as all four major indexes are down on Thursday afternoon. Precious Metals like gold shed 1.70% during the past day, and silver is down 2.09% against the U.S. dollar. Investors are worried about the upcoming U.S. Federal Reserve rate hike following the U.S.
” since the 2008 real estate crash. Mortgage rates, thanks to the U.S. central bank’s rate hikes have rallied above 6%. A 75bps increase codified by the Federal Reserve next week, will push mortgage and loan rates even higher. It can easily be argued that crypto markets, equities, and precious metals won’t react well to next week’s Fed hike. All of the FOMC rate hikes during the last few months have put a lot more pressure on a myriad of markets.
Why not 100? The market is pricing in 1%
they should do 1 or 1.25 and just get it over with
Hardly, the FED will rise 100bps this month since they are chasing to squeeze inflation at 2% in the next year. US CPI 8.3% is still a nightmare for the FED. We will see on the next FOMC. I hope I'm wrong. But 75bps - 100bps still consider as hawkish.
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