Bitcoin Bullish Reversal Post FOMC
Traditional markets responded with rallies following the Federal Reserve's tame communication following the FOMC meeting this week.
The 25 bps hike is nothing more than a symbolic statement, with the midterm elections looming and the Fed finally acknowledging that inflation is more persistent than what they had hoped.
The lack of serious action is likely to result in a reversal to near-term bullish action while inflation continues unchecked.
The next few months of "business as usual" are likely to support more upward prices, with CPI & PPI continuing to climb.
With the Fed's dovish stance and inflation soaring, there will be a significant amount of attention on what steps to take.
The real question is: can the economy support rampant inflation until midterm elections in November?
The 25 bps hike is nothing more than a symbolic statement, with the midterm elections looming and the Fed finally acknowledging that inflation is more persistent than what they had hoped.
The lack of serious action is likely to result in a reversal to near-term bullish action while inflation continues unchecked.
The next few months of "business as usual" are likely to support more upward prices, with CPI & PPI continuing to climb.
With the Fed's dovish stance and inflation soaring, there will be a significant amount of attention on what steps to take.
The real question is: can the economy support rampant inflation until midterm elections in November?
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