Crypto mining stocks plunge as Fed warns of ‘difficult tradeoffs’ — TradingView News
US crypto mining stocks tumbled at the close of May 28 trading after minutes published by the Federal Reserve signaled its growing uncertainty about the country’s economic outlook.
The crypto market remained unscathed, despite the stock drops among crypto miners.
Uncertainty about the economic outlook looms
The minutes of the Federal Open Market Committee’s meeting on May 6 and 7, released on May 28, stated, “the Committee might face difficult tradeoffs if inflation proves to be more persistent while the outlooks for growth and employment weaken.”
The Fed had decided after its meetings in early May to keep interest rates steady at 4.25% to 4.50%, with the minutes revealing the reason was due to “a further increase in uncertainty…
