© Reuters
The Federal Reserve did not hike interest rates in its meeting on Sept. 20 but hinted that rates could remain higher for longer. At the post-meeting press conference, Fed Chair Jerome Powell cautioned that “the process of getting inflation sustainably down to 2% has a long way to go.”
This possible scenario may have triggered the sell-off in the United States equities markets and also in the cryptocurrency space. Risk assets typically tend to underperform in a high-interest-rate environment.
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