Fed Minutes Sends Conflicting Signals

Main Takeaway: Crypto Markets Rise On Fed Minutes Release

The Fed Minutes was just released which gives the Fed’s perspective on its current and future policy moves. The results were that the Fed believes a recession is now a likely baseline scenario, that it can slow down its frequency and intensity of rate hikes, that inflation is still high, and that the labor market is still tight. All of these statements can be seen as bearish toward the future outlook of stocks and crypto – however, crypto markets are up on the prospect of slower and lower rate hikes.

Today’s Top Gainers

The top five performing cryptos on Phemex d-o-d are Gleec (GLEEC/USDT), STP Network (STPT/USDT), Tokocrypto (TKO/USDT), PERL.eco (PERL/USDT), and Solana (SOL/USDT).