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<p class="is-style-lead">The US Federal Reserve (Fed) chair Jerome Powell hinted at two more rate hikes expected to come this year. According to CNBC, the statement came after the Federal Open Market Committee (FOMC) decided to pause the consecutive rate boosts.</p>



<p>The Fed <a href="https://crypto.news/bitcoin-stays-resilient-ahead-of-feds-interest-rate-decision/">raised</a> its interest rates ten consecutive times since March 2022 — from a starting point of 0.13% on March 22, 2022, to 5.13% on the 10th rate hike on May 3 this year.</p>



<p>Moreover, according to a CNBC report, the central bank holds a hawkish stance on its interest rates until its meeting on July 25-26. </p>



<blockquote class="wp-block-quote">
<p>“We have raised our policy interest rate by five percentage points, and we’ve continued to reduce our security holdings at a brisk pace. We’ve covered a lot of ground and the full effects of our tightening have yet to be felt.”</p>
<cite>US Fed Chair Jerome Powell</cite></blockquote>



<p>Per the CNBC report, the US stocks witnessed immediate pressure as the news of two more rate hikes emerged. The crypto market has also been uncertain over the past 24 hours. Its market cap <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener">plunged</a> by 3.56% — a roughly $42 billion fall.</p>



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<p>Furthermore, the statement of two more rate hikes for this year comes while the central bank has already <a href="https://crypto.news/feds-rate-hike-causes-ripples-but-crypto-market-stands-firm/">pushed</a> its interest rates three times since February.</p>



<p>As the crypto market, especially bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>), fell after the pause on rate hikes, the crypto Twitter has shown its frustration.&nbsp;</p>



<h2 class="wp-block-heading" id="here-are-some-reactions-from-crypto-twitter">Here are some reactions from crypto Twitter:</h2>



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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">STOCKS ARE IN BULL MARKET <br><br>FED PAUSED THE RATE HIKE <br><br>BUT BITCOIN STILL AT $25,800 <br><br>ALTS ARE DOWN 50% <br><br>SEC IS SUING EVERYONE <br><br>FUCK THIS CRYPTO SHIT !! IM DONE <a href="https://t.co/srnG8lFZzv" target="_blank">pic.twitter.com/srnG8lFZzv</a></p>&mdash; Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1669048295296221184?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 14, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">The FED stops the rate hike, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> crashes. Anyone know why? <br><br>Wasn’t that supposed to be bullish? 🧐<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BTC</a> <a href="https://twitter.com/hashtag/BTCUSD?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BTCUSD</a> <a href="https://t.co/8BySRdxFdx" target="_blank">pic.twitter.com/8BySRdxFdx</a></p>&mdash; Duo Nine ⚡ Crypto Alpha (@DU09BTC) <a href="https://twitter.com/DU09BTC/status/1669201709200035840?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 15, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Feds and the Banking Cartel for the next 5 years every time they anticipate a Fed rate hike <a href="https://t.co/BtW4S4Edft" target="_blank">pic.twitter.com/BtW4S4Edft</a></p>&mdash; OfficiallyRNB (@CryptoWarrior01) <a href="https://twitter.com/CryptoWarrior01/status/1669062356834328579?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 14, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">GM Fams! Interest rate hike is 0%, why <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#bitcoin</a> is red <a href="https://twitter.com/hashtag/NFT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#NFT</a> <a href="https://twitter.com/hashtag/NFTartwork?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#NFTartwork</a> <a href="https://twitter.com/hashtag/NFTCommunity?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#NFTCommunity</a> <a href="https://twitter.com/hashtag/eth?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#eth</a> <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Ethereum</a> <a href="https://twitter.com/hashtag/NFTdrop?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#NFTdrop</a> <a href="https://twitter.com/hashtag/nftcollectors?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#nftcollectors</a> <a href="https://twitter.com/hashtag/NFTs?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#NFTs</a> <a href="https://twitter.com/hashtag/NFTGiveaway?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#NFTGiveaway</a> <a href="https://twitter.com/hashtag/mexc?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#mexc</a> <a href="https://twitter.com/hashtag/Mainnet?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Mainnet</a> <a href="https://twitter.com/hashtag/web3?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#web3</a> <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#crypto</a> <a href="https://twitter.com/hashtag/blockchain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#blockchain</a> <a href="https://twitter.com/hashtag/GM?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#GM</a> <a href="https://twitter.com/hashtag/meme?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#meme</a> <a href="https://twitter.com/hashtag/CryptoMeme?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#CryptoMeme</a> <a href="https://t.co/WAKyWfdlTT" target="_blank">pic.twitter.com/WAKyWfdlTT</a></p>&mdash; sermorpheus (@sermorpheus) <a href="https://twitter.com/sermorpheus/status/1669171704101507072?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 15, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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    <p>
        Read more:

        <a href="https://crypto.news/brazil-authorizes-its-central-bank-to-regulate-crypto/">
            Brazil authorizes its central bank to regulate crypto        </a>
    </p>

US Fed chair hints at two more rate hikes while crypto suffers volatility

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