Major cryptocurrencies experienced a surge on Tuesday, following remarks made by Federal Reserve Governor Chris Waller at an event in Washington, D.C.
What Happened: Waller believes that the U.S. Federal Reserve policy is currently positioned correctly.
“Something appears to be giving, and it’s the pace of the economy,” said Waller, pointing out that data from October and current forecasts for the remainder of the fourth quarter suggest a moderating trend. He also observed that inflation data is moving in a favorable direction.
After delivering his prepared remarks, Waller mentioned that there may be a strong argument for rate cuts within a few months if inflation continues to decline.
Waller’s colleague, Michelle Bowman, also said at a separate event that rates will need to increase to control inflation.
Top Gainer (24 Hour)
Cryptocurrency
Gains +/-
Price (Recorded 9:30 p.m. EDT)
Sei
+28.72%
$0.28
Terra
+18.35%
$0.0001016
FTX
+15.48%
$4.15
The global cryptocurrency market cap currently stands at $1.41 trillion, reflecting a decrease of 0.70% in the past 24 hours.
Stocks rose on Tuesday, resuming their November rally fueled by optimism sparked by comments from a Federal Reserve official.
This renewed hope stems from Waller expressing confidence that the current policy is effectively positioned ...