Today in Markets

Fed Comments Spook Market

Powell's comments put markets on edge, but crypto still ended the week up slightly.
Jack Inabinet Jack Inabinet Feb 3, 20242 min read
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market analysis Fed Comments Spook Market

TradFi indices reached for new all-time highs as the total crypto market cap continued to hammer against $1.6T weekly resistance. What big event impacted markets this week?

Markets sold off on Wednesday’s FOMC press conference after Federal Reserve Chair Jerome Powell proclaimed that rate cuts were “unlikely” to occur by March, an event that the market had been pricing in, and reiterated that we had not yet achieved a soft landing, stating that the fight against inflation has a ways to go.

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