Bitcoin Rises Above $22,000 As Fed Raises Interest Rates By 0.75%
The FOMC increased interest rates by 0.75 percentage point while indicating ‘unusually large’ hikes may be appropriate in future meetings; Bitcoin’s price jumps.The FOMC raised target rates for the federal funds rate by 75 basis points.Federal Reserve Chairman Jerome Powell indicated “unusually large” increases could be appropriate in future meetings.Powell also stated a period of economic slowdown will be necessary to restore price stability.The Federal Open Markets Committee (FOMC) raised its target interest rate for the federal funds rate by 75 basis points, or 0.75%, on Wednesday....
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Is the U.S economy getting better? This appears to be the general sentiment as the Federal Reserve announced today that it would be raising interest rates by 0.25 percent (one-quarter) for the first time this year and only the second time in the last decade. Since 2008, the U.S. (much like the rest of the world) has been on pins and needles from an economic standpoint. While some argue that the country has endured certain measures of stabilization, the fact that job reports are still low and unemployment spikes have been running rampant all year makes the general public a little skeptical.....
To get updates of my thoughts on bitcoin and the global financial markets please follow @sammantic. Miles Kimball, who is a Professor of Economics and Survey Research at the University of Michigan tells CoinTelegraph about negative interest rates, the future of paper and electronic money, and how cryptocurrrency fits in. Negative interest rates are a recent topic garnering much attention in the economic world. In no particular order, Denmark, Switzerland, Germany, Netherlands, Germany, Austria, and Sweden have or have recently had negative interest rates. On top of that some corporate....
FOMC Chair Jerome Powell assured investors that the Fed is ‘not trying to induce a recession’ in the United States.
Crypto prices immediately came crashing down after Federal Reserve Chairman Jerome Powell announced they are increasing interest rates during an economic summit on September 21. Now, in a not-so-delayed reaction, the United Nations is calling on the U.S. central bank and other large western regulators not to continue raising their interest rates, a UN agency […]