<\/p>\n
Minutes from the Federal Reserve’s June policy-setting meeting have markets in the red as investors speculate how many more rate hikes might be up central banker’s sleeves. <\/p>\n
The pace of rate hikes is expected to slow, central bankers said on Wednesday, but hikes should nonetheless be expected. <\/p>\n
\u201cMany also noted that, after rapidly tightening the stance of monetary policy last year, the Committee had slowed the pace of tightening and that a further moderation in the pace of policy firming was appropriate in order to provide additional time to observe the effects of cumulative tightening and assess their implications for policy,” the hours<\/a> reading. <\/p>\n Minutes from last month show that central bankers are still concerned about persistent inflation, and what some traders were hoping would be a conclusion to the recent era of tight monetary policy might simply be a pause. In June, committee members elected to keep rates the same<\/a>marking the central bank’s first rate hike pause in 15 months. <\/p>\n Crypto assets slid on the news, with bitcoin<\/a> and air<\/a> down about 0.8% and 1.2%, respectively. Both are still in the green over the last month though, with bitcoin gaining close to 19% since early June and ether up around 6%. <\/p>\n Equities dipped slightly in the moments after the release. The S&P 500 and Nasdaq Composite indexes lost about 0.2% and 0.1%, respectively. <\/p>\n Traders are still largely anticipating a 25 basis point increase at the Fed’s next policy-setting meeting later this month. Markets seem to be pricing in an 89% likelihood of a small increase, according to date<\/a> from CME Group. <\/p>\n Bitcoin has managed to hold above $30,000, a key resistance level analysts have been watching since June 23<\/a>, A sustained rally is dependent on equity performance and macro indicators, say analysts. <\/p>\n \u201cWhile the crypto market has been marching to a more optimistic drummer of late, we can’t assume it won’t be affected by a stock market sell-off or a sudden shift in rates expectations,\u201d Noelle Acheson, author of Crypto is Macro is now and former head of market insights at Genesis, said in a note Wednesday. <\/p>\n \u201cIt does have unique drivers, which will lend support; but many crypto investors breathe the same air as traditional asset investors, and it feels like it’s getting a bit thin.”<\/p>\n Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter<\/a> now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief<\/a>,<\/strong><\/p>\n Can’t wait? Get our news the fastest way possible. Join us on Telegram<\/a> and follow us on google news<\/a>,<\/strong><\/p>\n Minutes from the Federal Reserve’s June policy-setting meeting have markets in the red as investors speculate how many more rate hikes might be up central banker’s sleeves. The pace of rate hikes is expected to slow, central bankers said on Wednesday, but hikes should nonetheless be expected. \u201cMany also noted that, after rapidly tightening the […]<\/p>\n","protected":false},"author":2,"featured_media":118354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-118353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=118353"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118353\/revisions"}],"predecessor-version":[{"id":118355,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/118353\/revisions\/118355"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/118354"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=118353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=118353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=118353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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