The new interest rate adjustment announced by the US Federal Reserve (Fed) is 0.75%, unchanged compared to the previous 2 adjustments in June and July, in line with the forecast of the vast majority of investors experts and markets.
In the face of market panic when the US released after the August CPI report, although it decreased, it did not match expectations, while the CPI of consumer goods still increased, showing that the inflation situation has not yet been approved by the Fed control despite raising interest rates 4 times in a row in this 2022.
Therefore, the whole market was nervous about the news that the FED would raise interest rates at 0.75% or 1.0% to curb inflation. Last week, there was a 48% expectation of a full point hike by the Fed. However, the results this time show that the interest rate increase of 0.75% was exactly as predicted by experts and the market.
Despite achieving the expected results, it seems that the market has not shown any signs of a good recovery. After news of interest rate hikes, Bitcoin continues to fall deeply, currently trading at $18,418, down 2.42% within 24 hours. Besides, Ethereum is not much better as it is still down nearly 6.5%, currently trading at $1,243.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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