Expert is optimistic on crypto after the Fed rate hike, markets turn green

The U.S. Federal Reserve (Fed) chair Jerome Powell announced yet another rate hike to bring inflation down to the 2% mark. This is the eighth consecutive time in less than a year that the Fed has increased the interest rates. The Federal Open Market Committee (FOMC) has raised interest rates by 25 basis points (bps), or a quarter of a percentage point, for the first time in 2023. According to Powell’s speech, the main goal of the rate hike is to tame inflation, currently sitting at 6.5%, while preventing a recession in the U.S. “Restoring price stability will likely require