A hawkish Fed, the demise of crypto-friendly Silvergate Bank, and a possible government sale of Silk Road-related bitcoin have given investors ample reason to sell.
Highlights
- A hawkish Fed, the demise of Silvergate Bank, and possible government sale of Silk Road-related bitcoin have given investors ample reason to sell.
- A stronger-than-expected inflation report called into question the U.S.
- central bank’s assertion that a disinflation trend had begun in early 2023.
- The Federal Reserve itself has acknowledged as much, with its Chair Jerome Powell earlier this week telling Congress that the central bank has far more work to do to bring inflation back to its 2% target.
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