Wednesday’s FOMC meeting could decide whether the crypto rally continues or whether an end to the uptrend gets confirmed.
Decision time
It’s the FOMC meeting again, where the Fed Chairman announces whether the interest rate will rise, stay put, or fall, and the market hangs on his every word as though he were a sage of ancient times.
How Jerome Powell can still retain respect after getting inflation completely wrong when it first took off, and then making the most violent and abrupt interest rate rises in history, is a question that could rightly be asked.
Be that as it may, the market does have to pay heed because this man and his agency are still playing the role of God for the markets. Yet another 25 basis point interest rate is firmly on the cards for tomorrow, although given the dire straits of some of the banks, this raise is still not cast in stone.
A future pause is likely
However, according to Angelo Kourkafas, CFA, investment strategist at Edward Jones, who spoke to the I
We współpracy z: https://cryptodaily.co.uk/2023/05/tomorrows-fed-meeting-could-be-make-or-break-for-crypto-rally
