Several reports detail that U.S. Federal Reserve officials are resolute on tightening monetary policy and increasing the federal funds rate until inflation in America is alleviated. Chicago Fed president Charles Evans explained on Tuesday that the central bank would likely keep up the larger than usual rate hikes until inflation is remedied.
By the closing bell on Tuesday, all of the major stock indexes were down, including the Dow Jones Industrial Average, Nasdaq, NYSE, and the S&P 500. Cryptocurrency markets also shed some gains and the market capitalization is hovering just above $1.13 trillion. Bitcoin (BTC) slipped under the $23K per unit zone and ethereum (ETH) dropped under $1,600 per coin on Tuesday.
What do you think about the statements from various Fed members and the market reaction following the hawkish commentary and tensions between China and Taiwan? Let us know what you think about this subject in the comments section below.
