{"id":15003,"date":"2022-11-30T22:07:37","date_gmt":"2022-11-30T22:07:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/markets-spike-after-fed-chair-says-it-makes-sense-to-moderate-the-pace-of-rate-hikes-hints-easing-could-happen-in-december-market-updates-bitcoin-news\/"},"modified":"2022-11-30T22:07:37","modified_gmt":"2022-11-30T22:07:37","slug":"markets-spike-after-fed-chair-says-it-makes-sense-to-moderate-the-pace-of-rate-hikes-hints-easing-could-happen-in-december-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/markets-spike-after-fed-chair-says-it-makes-sense-to-moderate-the-pace-of-rate-hikes-hints-easing-could-happen-in-december-market-updates-bitcoin-news\/","title":{"rendered":"Markets Spike After Fed Chair Says It \u2018Makes Sense to Moderate the Pace\u2019 of Rate Hikes, Hints Easing Could Happen in December \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Equities, precious metals, and cryptocurrencies shined on Wednesday following Federal Reserve chairman Jerome Powell\u2019s speech at the Brookings Institution in Washington. The crypto economy increased 3.11% to $860 billion, while the top four stock indexes jumped between 2% to 5% higher on Nov. 30. <\/strong><\/p>\n

Stocks, Crypto, and Precious Metal Markets Jump Higher Against the Greenback Following Powell\u2019s Speech at Brookings Institution<\/h2>\n

On the last day of November, the U.S. central bank\u2019s chief Jerome Powell offered<\/a> a \u201cprogress report on the Federal Open Market Committee\u2019s (FOMC) efforts.\u201d The Fed chair\u2019s speech at the Brookings Institution in Washington hinted at the possibility of smaller rate hikes starting in December.<\/p>\n

\u201cIt makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down,\u201d Powell said. \u201cThe time for moderating the pace of rate increases may come as soon as the December meeting.\u201d<\/p>\n

After Powell\u2019s speech, equity markets spiked and cryptocurrencies and precious metals followed suit. A troy ounce of .999 fine gold jumped 1.15% higher during the last 24 hours, while an ounce of fine silver rose by 4.45%, according to the New York Spot Market Price<\/a>. Gold is currently exchanging hands at $1,770 per ounce and silver is swapping for $22.27 per ounce.<\/p>\n

Gold bug and economist, Peter Schiff, added his two cents about Powell\u2019s commentary on Wednesday afternoon. \u201cInvestors are no longer buying what Powell is selling,\u201d Schiff said<\/a> via Twitter. Schiff remarked that \u201cnot only will the economy crash\u201d but it will also be \u201canother financial crisis,\u201d the economist opined.<\/p>\n

All four major stock indexes rallied on Wednesday afternoon as well following Powell\u2019s speech. Nasdaq, the Dow Jones, S&P 500, and NYSE were all up between 2% and close to 5% higher against the U.S. dollar. Equities investors believe Powell plans to settle down with large rate hikes following his commentary at Brookings Institution.<\/p>\n

Powell\u2019s statements, however, noted that restrictive policy is still needed to remain in place for quite some time. \u201cIt is likely that restoring price stability will require holding policy at a restrictive level for some time,\u201d Powell detailed. \u201cHistory cautions strongly against prematurely loosening policy. We will stay the course until the job is done,\u201d the Fed chair added.<\/p>\n

Cryptocurrencies also benefitted after Powell\u2019s speech as the entire crypto economy<\/a> increased 3.11% against the U.S. dollar on Wednesday afternoon. Bitcoin (BTC)<\/a> rose above the $17K per unit zone, rising 3.43% against the greenback. Ethereum (ETH)<\/a> jumped 5.66% higher on Wednesday nearing the $1,300 per unit range.<\/p>\n

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Bitcoin<\/a>, Bitcoin (BTC)<\/a>, crypto economy<\/a>, Crypto markets<\/a>, Dovish<\/a>, dow jones<\/a>, Economy<\/a>, equities<\/a>, Ethereum (ETH)<\/a>, gold<\/a>, Hawkish<\/a>, jerome powell<\/a>, nasdaq<\/a>, New York Spot<\/a>, NYSE<\/a>, Ounce of Gold<\/a>, Ounce of Silver<\/a>, Peter Schiff<\/a>, PMS<\/a>, Precious Metals<\/a>, Restrictive<\/a>, S&P 500<\/a>, silver<\/a>, Stock Markets<\/a>, stocks<\/a><\/div>\n<\/div>\n

What do you think about the market reaction to Jerome Powell\u2019s speech on Wednesday? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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