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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Federal Reserve Chair Jay Powell has emphasized on tighter and more aggressive monetary policy to tackle excessive inflation, the Financial Times reports.
- Powell expressed confidence in the Fed's ability to tighten policy via a series of interest rate hikes to shrink the central bank's $9 trillion balance sheet amid the challenging labor market and inflation without sparking a recession.
- Powell looks to return the monetary policy stance to a neutral level followed by more restrictive levels to restore price stability. The "neutral" rate neither aids nor hampers growth, and most policymakers believe that figure to be around 2.4%.
- After Powell affirmed the Fed's commitment to suppress inflation, the U.S. stocks sold off, including possibly raising rates by half a percentage point rather than the standard quarter-point increase.
- The Fed chair's challenge will be to forge consensus among committee members about how swiftly monetary policy needs to tighten inflation according to the Fed's 2% target.
- The S&P 500 dived 0.8% before recouping some losses. The benchmark 10-year yield was up 0.15 percentage points on the day at 2.3%.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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