Federal Reserve Hikes Interest Rates: Impact on Financial Markets and Cryptocurrencies
Federal Reserve's Rate Hike and Projections
The Federal Reserve raised interest rates by 75 basis points in September, with plans for an additional 125 basis points by year-end, potentially reaching a 4.4% benchmark rate. This exceeds June's 3.8% estimate, with rate cuts not expected until 2024.
Impact on Treasury Yields
The 2-year Treasury yield surged to 4.1%, its highest since 2007, attracting safety-seeking investors. This rise may reduce the appeal of riskier assets like stocks and cryptocurrencies, potentially delaying new uptrends.
Implications for Cryptocurrencies
Higher rates could make cryptocurrencies less attractive, affecting market performance. Investors may favor safer assets, impacting the volatility and growth of digital currencies.
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