Taper coming?
One thing that nobody on crypto Twitter is talking about today, but maybe they should discuss, is the Federal Reserve.
As we know, they are the lenders of last resort, the creators of all dollars, and self-imposed dictators of the global economy, so it pays to pay attention to the things they say.
In their closed door meeting on April 28, it appears that several Fed members discussed potentially raising interest rates, should the economy begin to recover.
The minutes of that meeting, released yesterday morning shortly after bitcoin's lows were marked, revealed that the topic of reducing quantitative easing did come up, though it failed to state specifically which members advocated such radical measures.
Not that it matters much at this point. Employment data that came in the week after that meeting was extremely disappointing.
The Fed members who were considering normalizing policy have likely given up by now, even though it's clear that inflation is getting out of hand.
What it means going forward, however, is that investors will be watching for new data and improvements in the economy, and many stock traders may use that as an indicator to try and call the top.
Have a wonderful day ahead!
