Inflation in the United States has reached a 40-year high. In the fight for the stability of the economy, the Fed raised the rate by 75 basis points.
This was stated by Fed Chairman Jerome Powell at today's meeting of the Committee on open markets. As a result, the base rate in the US is currently in the range of 1.5-1.75%.
According to experts, this maximum rate since 1994 had a negative impact on the financial market. BTC and ETH lost 8 and 11 percent of their price today. The value of S&P 500 and Nasdaq-100 shares also decreased.
Recall that this trend has continued in the United States since the beginning of 2022. Crediting becomes more expensive, the circulating mass of money resources is reduced.
Markets react by lowering prices. On the SPX and NASDAQ, the decline was 22% and 31% from the highs at the end of 2021. The flagship cryptocurrencies BTC ETH are trading at 69% and 77% cheaper.
Recall that in 2022 the base rate was raised 3 times - on March 16 by 0.25%, then by 0.5% in early May and now by 0.75%. This happened for the first time since 2018.
If you decide to try your hand at the world of cryptocurrencies, do it with a trusted and reliable partner COINEX.
CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources . Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.