Crypto
Fed Hike Expectations Soar as Cryptos Slide Ahead of FOMC Decision
The Federal Reserve is set to announce its FOMC interest rate decision today at 2:00 PM ET. The markets are expecting a hike of 25 basis points, with CME's FedWatch tool pricing in a more than 90% probability of this outcome.
Fed Chair Kevin Warsh will hold his press conference shortly after the announcement, at 2:30 PM ET.
The cryptocurrency market remains under pressure due to ongoing uncertainty. The US Senate's failure to pass the CLARITY Act has added to the unease ahead of today's Fed decision.