- The FED’s emergency meeting decision could influence the direction of the market next week.
- James Bull believes the Fed may cut interest rates to protect more banks from failure.
- Crypto prices could rise or fall depending on the actual CPI figures expected on Tuesday.
Metaverse aficionado James Bull has tweeted that the outcome of the FED emergency meeting scheduled for Monday, March 13, 2023 could have a big impact on the cryptocurrency market next week. Bull believes the Fed may cut interest rates to prevent banks from facing problems like those encountered by Silicon Valley banks.
Bull also mentioned the possibility of CPI, another fundamental indicator to be released after the Fed’s emergency meeting. According to Bull, in reality, if the CPI number is higher than expected, prices will rise in the market, and if the numbers are lower than expected, prices will crash.
The Federal Reserve Board has decided to hold a closed emergency meeting on March 13, 2023 at 11:30 am. Interest rates charged by the Federal Reserve Bank. ”
The sudden collapse of Silicon Valley Bank (SIVB), whose assets were seized by the Federal Deposit Insurance Corporation (FDIC), has led to widespread public opinion that the Fed has amended its emergency meeting.
The SIVB failure is unprecedented and the second largest bank failure in US history. This is the biggest bank failure since the infamous 2008 financial crisis.
The SIVB fell last Friday, sending the banking sector into panic heading into the weekend. The full extent of the damage done to the industry is still unknown as billions of dollars in uninsured deposits remain unknown heading into the new week.
The FED decided to hold an emergency meeting one week before the meeting originally scheduled for March 21-22, 2023. ECB meeting.
The post Emergency Federal Reserve could set the tone for the direction of the crypto market first appeared in the coin edition.
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