Fed Could Hike Interest Rates By 75 BPS, Here’s What It Means For Bitcoin

The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting. It is expected that another Fed interest rate hike is on the horizon, which will no doubt have a profound effect on the crypto market. FOMC Meeting Draws Near The next FOMC meeting will take place on November 1-2 according to the official schedule. It happens around once every one to two months and is important as this is where the Fed decides what to do in regard to the economy and keeping it healthy. Related Reading: Ethereum Devs Try To Leverage Price Surge As Smart Contracts Reach New High Unlike the previous years, 2022 has been a very hard year, not just for the United States economy, but for economies all around the world. Inflation rates have been reaching levels not seen in decades and the Fed has had to tighten up its policy in response to this. Interest rate hikes have been the norm for the last couple of months, in most cases, coming in higher in most cases than expected. This time around, Wu Blockchain has said that the expected interest rate hike is 75 BPS, with an 81% probability of this happening. If it does play out this way, then this would be the fourth consecutive interest rate hike of 75 bps by the Fed, which could have negative consequences f...