Federal Reserve Rate Hikes Crush Asset Prices

Janney Montgomery Scott's Guy LeBas discussed how markets are responding to the Federal Reserve's recent actions. The Federal Reserve has been raising interest rates to combat inflation, and this move is affecting various assets.

In an interview with CNBC, LeBas mentioned that the Federal Reserve is 'tightening' its monetary policy, which means it's reducing the amount of money in circulation. This tightening is causing asset prices to decline.

LeBas noted that Bitcoin (BTC) has been particularly affected by the Federal Reserve's actions, stating 'Bitcoin's not performing well.' He attributed this performance to the overall market downturn and the lack of a clear direction from the Federal Reserve.