Economy


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Fed Hikes Rates to Highest Since 2007; Bitcoin Slides Toward $19K

This is the third consecutive time that members of the Federal Open Market Committee raised rates by 75 basis points, signaling how serious inflationary pressures have gotten in the U.S. The bitcoin market doesn't like it.

Bitcoin and ether traded slightly higher following Fed Chairman Jerome Powell’s latest comments on inflation and the economy. (Jesse Hamilton/CoinDesk)

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Path Forward for Crypto Gets Tougher After US CPI Report Comes in Hot

It's becoming a game of Whac-A-Mole for the Federal Reserve to keep consumer prices from shooting up. That might mean an aggressive-for-longer stance on monetary policy, ostensibly a negative driver of prices for risky assets from stocks to cryptocurrencies.

Prices for cereals and bakery products shot up 1.2% in August from July. (Creative Commons, modified by CoinDesk)

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US Job Growth Slowed in August; Bitcoin Gains

The report is one of the last major economic data points the Federal Reserve will see before its September monetary policy meeting.

Binance, Kraken y Polygon están contratando mientras el mercado está en baja. (Clem Onojeghuo/Unsplash)

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Bitcoin, Ether Consolidate as Traders Eye US Jobs Report to Gauge Next Fed Rate Hike

Instead of weighing the broader path for interest rates or the terminal rate, markets are trading the odds on the Fed's Sept. 21 decision: 50 bps or 75 bps, one trading firm said.

The U.S. payrolls report may help determine the scale of the impending Fed rate hike and move markets. (Alex Kotliarskyi/Unsplash)

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Bitcoin Tumbles Below $21K After Powell’s Hawkish Remarks

The Federal Reserve chair said households and businesses should prepare for pain as the central bank works to bring down inflation.

El precio de bitcoin podría continuar cayendo tras el discurso del presidente de la Fed. (Source: TradingView)

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Federal Reserve’s Powell: Inflation Battle Not Yet Close to Finished

The U.S. central bank chair, in a speech Friday morning, doubled down on his intent to aggressively hike interest rates to bring inflation down.

Fed Chair Jerome Powell at this year's economic symposium. (C-Span)

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Markets Should Prepare for Persistent Inflation and Continued Rate Hikes

U.S. Federal Reserve speakers were out in force one day ahead of Chairman Powell’s keynote address at the Jackson Hole conference.

(Matt Henry Gunther/Getty Images)

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Bitcoin Retraces 3 Weeks of Gains as Analysts Blame Macroeconomic Turmoil

Bitcoin is holding at around $21,340 after slumping for the sixth consecutive day.

Bear (mana5280/Unsplash)