If you looked at the price of digital assets seven days ago, promised yourself to not look again until a week passed and then looked at their prices Thursday, you’d likely think that nothing significant had occurred.
This week was anything but uneventful, however, with the Federal Open Market Committee announcing another interest rate hike, the banking industry trying to avert a meltdown and U.S. regulators ratcheting up their scrutiny of the crypto industry. Still, much of the economic turmoil this week is tied to the bond portfolios of traditional banking institutions. Those bond values have declined sharply following the most rapid increase of interest rates in history.
FOMC raised its Core PCE inflation estimates for 2023 to 3.3% from 3.1%, but the ultimate interest rate projection of 5.1% remains.
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GWilliamsJr_CMT GO $BTC $ETH & $MOAB
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Thanks a millon
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