Why Did Crypto Crash Today? Jerome Powell’s Speech Spark Panic Selling
The US Federal Reserve yesterday announced a rate cut of 0.25%, as expected. In the press conference organised to declare the rate cut, Fed Chairman Jerome Powell defended the decision, portraying it as an attempt to achieve a more balanced economic position. However, he revealed that the organisation would adopt a cautious approach while considering further rate cuts. Yesterday, both the US stock market and the cryptocurrency market suffered severe drops.
US Fed Rate Cut & Inflation Goals: What You Should Know
Yesterday, the US Fed Fund interest rate was brought down to 4.5%. It was the third major correction this year. Initially, on September 18, it was reduced to 5%. On November 7, it was lowered for the second time to…
