The following is from a recent issue of Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive this insights and other on-chain market analysis delivered directly to your inbox, Subscribe now.
Yesterday, the Federal Reserve Board announced that it doubled the pace of its asset reduction to $ 30 billion per month, which was a bit more aggressive than consensus expectations. Rather than ending all asset purchases today, Jerome Powell noted that a methodical and calculated approach to settling asset purchases is a more stable approach for the markets. The current plan is for asset purchases to end in March 2021 and the market expects a high probability of three interest rate hikes in 2022, up to 100 basis points.
