The Federal Reserve must weigh the U.S.’ debt obligations while trying to tame inflation without sending the economy into deep recession. Its next steps could be impactful for crypto markets. GWilliamsJr_CMT writes
Bitcoin and ether finished another positive week, even as the stubbornly strong jobs market raised questions about the U.S. Federal Reserve’s next interest rate move.
Investors may view the robust job market negatively as it suggests the economy is not cooling as much as other economic data indicates, and may prompt the U.S. central bank to extend its current series of rate increases. Fed Chair Jerome Powell has repeatedly said taming inflation, which topped 9% at one point in 2022, remains a priority.
Traditional markets have been mixed, with the Dow Jones Industrial Average trading higher while the S&P 500 and tech-heavy Nasdaq composite declined today. Derivatives markets appear to be pricing in higher interest rates for the first two quarters of 2023.
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