Despite crypto's gains this week, both Bitcoin and Ethereum are still experiencing significant declines since the beginning of the year. On a year to date (YTD) basis, the market capitalization value of Bitcoin and Ethereum has dropped by more than 50%.
US monetary policy impact strengthens USD 15.41%. Federal Open Market Committee (FOMC) meeting which will take place November 2, 2022, US time. decided the benchmark interest rate range of the Fed Funds Rate 75 basis points to 3.75 – 4%. With this decision, the Fed has raised its benchmark interest rate by 75 bp at the fourth consecutive meeting. This is also the highest interest rate level since 2008. In a statement following the rate decision, the Fed said that continued rate hikes would likely be needed for inflation to return to the Fed's target of 2 percent.
US monetary policy impact strengthens USD 15.41%. Federal Open Market Committee (FOMC) meeting which will take place November 2, 2022, US time. decided the benchmark interest rate range of the Fed Funds Rate 75 basis points to 3.75 – 4%. With this decision, the Fed has raised its benchmark interest rate by 75 bp at the fourth consecutive meeting. This is also the highest interest rate level since 2008. In a statement following the rate decision, the Fed said that continued rate hikes would likely be needed for inflation to return to the Fed's target of 2 percent.
