Major cryptocurrencies have recovered in the past 24 hours and broader equity markets strengthened even as two U.S. Federal Reserve policymakers called for higher rate increases in coming months. By shauryamalwa
Some analysts, however, remained neutral about prospects of a longer-term bitcoin recovery considering the sentiment in broader equity markets.
Higher rates would increase the chances of a recession as consumers spend less, potentially hurting the prices of equities as companies miss revenue targets. “We need to move to a much more restrictive setting in terms of interest rates and policy, and we need to do that as quickly as possible,” Waller said Thursday during a webcast hosted by the National Association for Business Economics.
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