Federal Reserve Financial News

Inflation is front-page news again after the Labor Department revealed this week that the United States consumer price index soared to 8.5% year-over-year in March — the highest in over four decades. According to crypto industry veteran and Morgan Creek Capital founder Mark Yusko, price increases aren’t the real problem. 

Ethereum's native token Ether (ETH) has dropped about 17% against the U.S. dollar in the last two weeks. But its performance against Bitcoin (BTC) has been less painful with the ETH/BTC pair down 4.5% over the same period.

Bitcoin (BTC) saw a predictable fall into the Wall Street open on April 11 as bears took the market toward $40,000.

Bitcoin (BTC) starts the second week of April with a whimper as bulls struggle to retain support above $40,000.

Global financial markets continued to face an uphill battle on April 7 following recent hawkish comments from the United States Federal Reserve hinting at a rapid rise in interest rates as one course of action to help curb rampant inflation. 

Bitcoin (BTC) is “trading really well” considering the recent interest rate hikes in the US, and once the Federal Reserve (Fed) puts its tightening on pause, bitcoin is “going to the moon,” Galaxy Digital CEO Mike Novogratz said.

Bitcoin broke out of its narrowest trading range in months in the waning days of March following a rough start to the year. Now, as the digital token approaches another key trendline, investors are wondering whether they're being set up for disappointment again. With the largest cryptocurrency settling in near the top of the $30,000 to $50,000 range he predicted just weeks ago, Michael Novogratz said Thursday that he was «more constructive» on crypto while also not providing a new forecast. The billionaire investor had warned earlier not to expect big gains in 2022 with the Federal Reserve raising interest rates. Bitcoin traded within 10% of its 50-day average price for 51 days through March 26, the longest stretch of tight trading since July 2020, according to data compiled by Bloomberg. The breakout last weekend wiped out losses for the year but left Bitcoin still trading about 30% below its record high set in November.

US Senator Ted Cruz has introduced companion legislation to a January 2022 bill drafted by Representative Tom Emmer, which prohibits the Federal Reserve (Fed) from issuing a central bank digital currency (CBDC) directly to individuals.

Texas Sen. Ted Cruz introduced companion legislation into the U.S. Senate on Wednesday for Minnesota Rep. Tom Emmer’s bill prohibiting the Federal Reserve from issuing central bank digital currency, or CBDC, directly to individuals, Emmer announced. Emmer introduced the House bill Jan. 18. Fellow Republican Cruz’ legislation could potentially speed up passage or rejection of the bill by allowing it to be considered in both chambers of Congress at the same time. 

At Monday's high of $47,765, market leader bitcoin broke above the narrow $34,000-$44,000 range it's traded in for most of 2022. Through a steady grind higher from a low just above $40,000 on March 21, it has gained 18%. Its comparative steadiness, versus previous performance at least, contrasts with stock markets, traditional currencies and even safe-haven gold, which have been shaken by the Russian invasion of Ukraine as well as the Federal Reserve's tightening.

The United States Senate will vote on President Joe Biden’s nominations to the Federal Reserve after delays instigated by Republican lawmakers.

Janet Yellen, the 78th United States Secretary of the Treasury, spoke Friday morning on CNBC’s flagship business and politics show Squawk Box, on an array of topics from the growth of the renewable energy sector amid Russia’s economic isolation, the rising levels of inflation and Federal Reserve responsibility, as well as her current perspective on digital assets.

Over the past two months, Bitcoin (BTC) has respected an ascending triangle formation, bouncing multiple times from its support and resistance lines. While this might sound like a positive, the price is still down 11% year-to-date. As a comparison, the Bloomberg Commodity Index (BCOM) gained 29% in the same period.

While optimism strengthened in the crypto market on Tuesday, after bitcoin (BTC) tested USD 43,000, and bullish sentiment remained in ethereum (ETH), some analysts warn that "choppy short-term movements may still continue." In either case, the recent bullish moves came despite comments from US Federal Reserve (Fed) Chairman Jerome Powell that were seen as surprisingly hawkish.

Jeffery S. Bredthauer, Associate Professor Of Finance, Banking and Real Estate, University of Nebraska Omaha.____ 

Ether (ETH) investors are having a rough time in 2022, with ETH accumulating 25% losses year-to-date as of March 17. Still, the cryptocurrency has bounced multiple times near $2,500 over the past couple of months, signaling a solid support level.

A sharp upside retracement in the Avalanche (AVAX) market this week has raised its possibilities to rise by another 100% in Q2.

Over the past two months, Bitcoin (BTC) has respected a slightly ascending trend, bouncing multiple times from its support.

Former Federal Reserve Board governor Sarah Bloom Raskin has withdrawn her name for consideration as the central bank’s vice chair for supervision in an attempt to allow other nominations to move forward.

Bitcoin (BTC) trimmed some of its losses from earlier in the day on Tuesday as market participants turned their focus to the expected interest rate hike by the US Federal Reserve on Wednesday.

Bitcoin (BTC) could undergo one last bear market capitulation if "whales" — addresses that hold more than $1 million worth of Bitcoin — ramp up their selling pressure, according to on-chain analyst Willy Woo.