Equities, precious metals, and cryptocurrencies shined on Wednesday following Federal Reserve chairman Jerome Powell’s speech at the Brookings Institution in Washington. The crypto economy increased 3.11% to $860 billion, while the top four stock indexes jumped between 2% to 5% higher on Nov. 30.
Stocks, Crypto, and Precious Metal Markets Jump Higher Against the Greenback Following Powell’s Speech at Brookings Institution
On the last day of November, the U.S. central bank’s chief Jerome Powell offered a “progress report on the Federal Open Market Committee’s (FOMC) efforts.” The Fed chair’s speech at the Brookings Institution in Washington hinted at the possibility of smaller rate hikes starting in December.
“It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down,” Powell said. “The time for moderating the pace of rate increases may come as soon as the December meeting.”
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