Will Outcome Of FED’s Meeting Cause Further Crypto Market Crash?
There is a generally accepted fact among investors in the crypto industry stating that the crypto markets will most definitely reach the point at which they could be elastic and break if considerable efforts are not put into ensuring that interest rates are moderate. The FED is reportedly on its way to raising the interest rate in its next meeting.
Interest Rates Likely To Be Raised At The Next Meeting
The Federal Reserve System, which is responsible for ensuring that the economy of the United States is in a good balance, is to hold a meeting later on the 13th or 14th of this month. According to the predictions made by experts, the meeting will most likely birth a new rise in the already high interest rate.
The committee in charge, which is the Federal Open Market Committee (FOMC), has been predicted to likely add an additional half of a percentage point to the existing percentage, and that will mean a total percentage of 4.25, which totals to about seven consecutive hikes that have been made by the FED within the space of just nine months.
Rightly so, the community has continued to bemoan this development, saying that at the rate the FED is going, they will sooner or later see to the breaking point of the crypto markets.
After the meeting, it is expected that the FED will be able to announce the rate hikes that they have in store for the coming years. Although experts have predicted that the hikes might not have immediate effects, they will undoubtedly be felt in the market come next year.
Another Rate Hike Will Trigger More Recession, Says Elon Musk
The multibillionaire who recently acquired the Twitter social media platform stated in an earlier statement that the recession will no doubt be worsened should the FED decide to increase the interest rate again.
He implied on the 9th that the FED should exercise due caution as any slight increase in rates will further worsen the recession, which he had earlier this year predicted would occur.
Right now, fingers are crossed as the meeting will be held later this week. No one truly knows the eventual outcome, but the fact remains clear that the outcome will be a great decision maker for a whole lot in the crypto market.
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