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The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level. In its quest to bring down inflation running near its highest levels since the early 1980s, the central bank took its federal funds rate up to a range of 3%-3.25%, the highest it has been since early 2008 following the third consecutive 0.75 percentage point move. The increases that started in March and from a point of near-zero mark the most aggressive Fed tightening since it started using the overnight funds rate as its principal policy tool in 1990.

The Federal Reserve is raising rates. That much is certain.

Two crypto experts shared their crypto price predictions heading into the FOMC meeting tomorrow at 2pm ET and Jerome Powell's speech.

Prices remain soft across the market as traders await Federal Reserve Chair Jerome Powell’s statement on the size of the next interest rate hike. 

Sweden's Riksbank on Tuesday launched a 100 basis point hike to interest rates, taking its main policy rate to 1.75%, as it warned that «inflation is too high.»

The Federal Reserve’s annual August retreat in Jackson Hole, Wyo., was imminent, and markets were rallying on expectations the central bank might slow its pace of interest rate increases.

The sandbox programme will begin in October, with an inaugural cohort of participants focused on cross-border payments. Further cohorts will follow, each of which will carry out an education phase followed by a pilot phase.The project is designed to provide the federal government, policymakers, and private sector organisations with a stronger, clearer picture of what implementing a CBDC in the US would look like, and to answer questions of what a roll-out might entail across retail, wholesale, and international use cases.Jennifer Lassiter, executive director, Digital Dollar Project, says: "The Digital Dollar Project is excited to bring a broad array of industries and technical experts together to define desired outcomes and explore a wide range of technical design choices in relation to a US CBDC."In January, the Federal Reserve published its long-anticipated discussion paper on the risks and benefits of a digital dollar and invited public comment - but studiously avoided giving any hints on its plans.Fed chair Jerome Powell has remained noncommittal on the chances of a digital dollar, but others at the central bank have been less circumspect.Supervision chief Randal Quarles has suggested that CBDCs could be an embarrassing fad, comparable to the parachute pants made famous in the 1980s by rapper MC Hammer.

Bitcoin (BTC) has rebounded by 20% to almost $22,500 since Sept. 7. But bull trap risks abound in the long run as Elon Musk and Cathie Wood sound an alarm over a potential deflation crisis.

Following a month-long decline and the hawkish remarks made by Fed Chair Jerome Powell, crypto-investors finally saw some relief over the last 10 days on the back of the market’s appreciation. 

Bitcoin (BTC) has been in a rut, and BTC’s price is likely to stay in its current downtrend. But like I mentioned last week, when nobody is talking about Bitcoin, that’s usually the best time to be buying Bitcoin. 

Federal Reserve Chairman Jerome Powell said in a question and answer session hosted by the Cato Institute on Sept. 8 that the central bank will continue to hike rates until inflation is under control. However, these comments did not rattle the markets as much as most would have anticipated, indicating that traders might have already factored in a 75 basis point rate hike in the Fed’s next meeting on Sept. 20–21.

Federal Reserve Governor Christopher Waller on Friday echoed recent sentiments from his colleagues, saying he expects a big interest rate increase later this month.

Members of the House Committee on Financial Services have called for Federal Reserve vice chair Lael Brainard to clarify her position on a central bank digital currency ahead of deadlines set by United States President Joe Biden’s executive order on digital assets. 

Peter Goettler, the chief executive officer of United States-based think tank Cato institute, has provided an update to the crypto community on the man who photobombed former Federal Reserve chair Janet Yellen during a 2017 congressional hearing — and he’s in the family.

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Federal Reserve Chairman Jerome Powell is set to speak Thursday morning in a moderated discussion at a Washington, D.C., think tank, his last scheduled public remarks before the Fed’s next policy meeting, Sept. 20-21.

The Federal Reserve appears to be on a path to raise interest rates by another 0.75 percentage point this month in the wake of Chairman Jerome Powell’s public pledge to reduce inflation even if it increases unemployment.

Prominent economists including Larry Summers predict a recession is coming. Half of Americans think the U.S. is already in one, according to a Wall Street Journal poll. Federal Reserve Chairman Jerome Powell has stopped talking up a “soft landing,” when the economy slows enough to bring down inflation but not push unemployment up much, and has begun warning of pain.

Traders are now seeing a near-certainty that the Federal Reserve enacts its third consecutive 0.75 percentage point interest rate increase when it meets later this month.

Capital is flowing into short bitcoin (BTC) funds at a record rate, while regular long bitcoin funds continue to see outflows, new data from the crypto research and investment firm CoinShares shows.

An $860 surprise price correction on Sept. 6 took Bitcoin (BTC) from $19,820 to $18,960 in less than two hours. The movement caused $74 million in Bitcoin futures liquidations at derivatives exchanges, the largest in almost three weeks. The current $18,733 level is the lowest since July 13 and it marks a 24% correction from the rally to $25,000 on Aug. 15.