Crypto Market News: The US Federal Reserve’s target rate decision may likely come on the expected lines but the market would be keenly looking at whether the Federal Open Market Committee (FOMC) shows any signs of cooling down the monetary policy. Amid pressure from the ongoing US regional banking crisis, the markets are expecting that the central bank implements a 25 bps rate hike for the last time in a series of target rate raises. This would take the current target of 475-500 bps to the 500-525 bps range.
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Meanwhile, if Fed Chair Jerome Powell announces any indication of slowing down the rate hikes in upcoming meetings, the Bitcoin price may climb at the back of some correction in recent times.
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Peter Brandt Agrees
Peter Brandt, another veteran analyst, agreed with Tom’s analysis on Fed’s rate hike plans.
More Rate Hikes Are A Mistake
Tom McClellan, a veteran analyst, commented that further hiking of interest rate would be fatal for the markets. They should instead cut to 4% immediately, he said.
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