Powell’s Message to Bitcoin and Stocks: Bear or Bull?
The Federal Reserve (FED) raised interest rates by 25 basis points to 5.5%, reaching the highest level in 22 years. The decision was expected, but investors were still uncertain about its impact. FED Chairman Powell’s statements left both bears and bulls with mixed signals.
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Powell mentioned that they would decide on interest rates based on data at each meeting, softening the previous statement of two rate hikes announced in June. This gave hope to the bulls that there might not be another rate hike soon. He also emphasized patience in seeing the effects of rate hikes, which supported the view that this could be the last rate hike. Read More...