Bitcoin · Federal Reserve (FED) · New York · CoinDesk
Live updates: Bitcoin turns lower as rates rise, consumer confidence plunges
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“With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information,” said Federal Reserve Bank of New York President John Williams on Tuesday afternoon.
Key facts
- Williams’ remarks are landing on short-term rate markets, sending the two-year Treasury yield down to 4.88% from as high as 4.96% earlier on Tuesday
- With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information,” said Federal Reserve Bank of New York President John Williams
- His base case, he said, would be for one more rate hike this year
- Bitcoin and stocks aren’t reacting, both continuing with modest losses for the day
Summary
His base case, he said, would be for one more rate hike this year. Williams’ remarks are landing on short-term rate markets, sending the two-year Treasury yield down to 4.88% from as high as 4.96% earlier on Tuesday. Bitcoin and stocks aren’t reacting, both continuing with modest losses for the day.