According to a policy statement from the central bank on Wednesday, the Federal Reserve will accelerate its asset purchase contraction timeline in response to high inflation and a recovering labor market in one of the most hawkish moves in recent history. Policymakers have chosen to reduce their bond purchases by twice as much as previously announced. If this new slowdown rate is maintained, the pandemic period program in which the central bank buys $ 120 billion in assets per month will end in March 2022.
Fed's Inflation and Interest Statements
Fed announced last night that it was keeping interest rates steady along with the statements made. However, according to the statement, those interest rates could be increased three times in 2022 and 3 times in 2023. There was also an emphasis that inflation was taking longer than expected.
AVAX: Bank of America Seems Impressed by Avalanche's Subnets
According to a report published earlier today, Bank of America recently praised its smart contracts platform Avalanche in a research note for customers.
A Crypto Company Has Launched the World's First Bitcoin-Based Mortgage Product
A cryptocurrency company has announced a Bitcoin-based mortgage product, the first of its kind. Ledn, a global financial service provider and digital asset saving and loan platform, first announced the completion of a $70 million Series B funding round on Wednesday. This round will bring the company’s valuation to $540 million.
Dollar May Devalue 20% Over Next Decade, Says Citibank CIO
Commenting on the future of the USD in one program, he made a somewhat sharp prediction and said, "We estimate that a dollar will be 80 to 85 cents if you do nothing." In the name of economic stimulus, the Federal Reserve has been intervening in the US currency and economy for the past 2 years. It cut interest rates to 0.25%, its lowest level since the 2008 financial crisis. This was part of an effort to discourage austerity and encourage borrowing and spending. Inflation rates in the United States because of mass money printing are currently at the highest level in the last 40 years at 6.8%. According to the Wolfstreet website, Fed is still printing $105 billion in the current period from mid-November to mid-December. That is why it can lead to a devaluation of the dollar over time
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