Federal Reserve chair Jerome Powell announced Wednesday that the central bank will start shrinking its balance sheet and lift the fed-funds rate by a 0.5 percentage point.
Fed Meeting Decision Looks Baked, But Outlook Is Far From Certain
The Federal Open Markets Committee (FOMC) is holding its two-day, closed-door meeting to discuss rising inflation starting today.
Labor Costs Jump by Most in 2 Decades, Adding to Inflationary Surge
Both the employment cost index (ECI) and personal consumption expenditures (PCE) price index accelerated in the first quarter, adding inflationary pressure.
U.S. Economy Shrinks Unexpectedly, Amplifying Recession Fears
Because cryptocurrency prices have recently started to move in correlation with equity markets, a slowdown in economic growth, which might signal an upcoming recession, could affect digital assets including bitcoin (BTC).
Crypto Market’s Direction During a Recession Might Depend on Nasdaq
Because of bitcoin’s strong correlation to the tech-heavy Nasdaq 100 index in recent months, the cryptocurrency’s performance during a recession might depend on the direction of broader markets.
Fed’s Powell Says 50 Basis Point Hike ‘On The Table’
The Federal Reserve chair spoke on a panel about the global economy presented by the International Monetary Fund.
Bitfinex Exchange Back Online After ‘Issues’ Cause 2-Hour Outage
The platform underwent maintenance after trading was halted.
Tether’s Paolo Ardoino on UST: ‘It’s All Fun and Games’ Until You’re a $100B Coin
If the algorithmic-based stablecoin keeps growing this fast, there could be major risks to market stability, analysts and researchers say.
MetaMask’s Institutional Arm Makes Push for DAOs With New Custody Deals
The ConsenSys-owned wallet provider says it want to bring “all organizations on planet earth into Web 3.”
Financial Services Company DTCC Working With Digital Dollar Project on CBDC Prototype
“Project Lithium” is particularly focused on how a central bank digital currency (CBDC) could benefit the financial services industry.
A Censorship-Resistant Inflation Index Is Being Built on Chainlink
Truflation currently measures a 13.2% inflation rate, as opposed to the 7.9% measured by the Consumer Price Index in March.
Fed Officials Discussed Shrinking Assets by Up to $95B a Month
Members of the Federal Open Markets Committee (FOMC) said they are “well places” to start shrinking the central bank’s balance sheet starting in May.
Fed’s Brainard Says Balance Sheet Reduction to Happen Rapidly
Brainard’s speech comes a day before the Federal Open Market Committee (FOMC) will release minutes of its March 15-16 meeting in which members decided to raise the federal funds rate for the first time in three years.
Dogecoin Rallies Again After Elon Musk Joins Twitter Board
The news comes one day after the Tesla CEO disclosed his ownership of 9.2% of Twitter, making him the company’s largest individual shareholder.
U.S. Adds 431K Jobs in March, as Unemployment Rate Nears Pre-Pandemic Level
The report is widely watched by traditional and crypto traders because of its implications for inflation and the Federal Reserve’s fight against it.
Fed’s Preferred Inflation Gauge Up 6.4% in February to Four-Decade High
Bitcoin traders were monitoring the PCE Price index for signs of whether price increases are accelerating.
A Digital Dollar May Help the Poor, but It’s Far From a Done Deal
Financial inclusion is a big driver behind looking into a possible U.S. central bank digital currency, but whether or not it would solve the problem has yet to be determined.
Fed Chair Powell’s Hawkish Stance on Inflation Could Hurt Crypto
On Monday, the Fed Chair gave what was seen as one of the most hawkish speeches yet, announcing more rate increases this year. For crypto, this could mean falling prices.
Ukraine Crypto Exchange Founder Accuses Binance of ‘Cooperating’ With the Russian Government
Michael Chobanian also says Binance has yet to make its promised $10 million donation. The exchange didn’t respond to CoinDesk’s request for comment.
The Fight Against Inflation Has Begun and Bitcoin is Ready to Help
As interest rates rise, now could be a good time to consider the digital currency as an alternative for your financial needs.