Today in Markets

Banking Crisis Round 2?

Rate cut expectations took a hit in yesterday's FOMC press conference.
Jack Inabinet Jack Inabinet Feb 1, 20242 min read
market analysis Banking Crisis Round 2?

Risk markets took a beating after yesterday’s FOMC press conference, with the broad market S&P 500 falling 1.2% and Bitcoin declining 3.7% following Federal Reserve Chair Jerome Powell’s speech. What made markets sneeze, and how are they reacting today?

Markets went into free-fall after Chair 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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Jack Inabinet

Written by Jack Inabinet

207 Articles View all      

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business and remains based out of the Seattle area.

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