WS #15735
Federal Reserve officials are signaling that interest rates need to remain higher for longer, with Cleveland Fed President Beth Hammack advocating for smaller, more frequent policy adjustments to anchor inflation expectations. This hawkish stance, combined with strong Treasury yields, is weighing on risk assets, evidenced by Bitcoin falling below $83,000 and Ethereum facing downward pressure. TotalEnergies' decision to lower diesel prices in France suggests some downstream relief, but the macro backdrop remains restrictive for growth assets.
Fed Hawkishness and Crypto Sell-off
Federal Reserve officials are signaling that interest rates need to remain higher for longer, with Cleveland Fed President Beth Hammack advocating for smaller, more frequent policy adjustments to anchor inflation expectations. This hawkish stance, combined with strong Treasury yields, is weighing on risk assets, evidenced by Bitcoin falling below $83,000 and Ethereum facing downward pressure. TotalEnergies' decision to lower diesel prices in France suggests some downstream relief, but the macro backdrop remains restrictive for growth assets.