After the inflation report for May that revealed the inflation of a staggering 8.6%, on June 15th, Fed increased interest rates by 0.75 percentage points. This is the biggest interest rate hike since 1994. This brings the Fed’s benchmark federal-funds rate to a range between 1.5% and 1.75%.
Interestingly, Crypto and the stock market had already priced this in a few days ago before Fed’s announcement.
Between June 9 – 13th, Bitcoin fell by 25.9%, NASDAQ fell by around 10.2% and S&P 500 by 8.8%. Despite the market crash, the officials expect a rise in benchmark rates to at least 3% this year.
Check the news report here, treasury rates charts, and interactive yield curve graphs.
Follow me @cryptodive for more crypto news!
My socials:https://linktr.ee/crypto.dive
Crypto Dive🥇 is growing to become the number one channel to educate people about decentralized technology.
#crypto
#bitcoin
#waiv
#finance
#leofinance
#cryptowinter
#market
#bearishmarket
#investment