At FOMC's minutes, A majority of the Fed officials agreed upon one more interest rate hike before year end. However, the minutes also mentioned a 'restrictive' approach until the inflation eases out.

Here are some of the key takeaways for crypto from the latest FOMC minutes held on Wednesday.

Although, Federal Reserve officials differed on whether an aggresive and continuous hike in the interest rate required anymore, the majority sighted one more hike is likely.

"A majority of participants judged that one more increase in the target federal funds rate at a future meeting would likely be appropriate, while some judged it likely that no further increases would be warranted."

Another keypoint of discussion was whether to hold a restrictive approach. All of the FOMC participants unanimously agreed that rates would stay up until the inflation is projected downward to 2% objective. Several of the participants also noted that they should now shift to 'how long' rather than 'how high' for the interest rate hikes.

"All participants agreed that policy should remain restrictive for some time until the Committee is confident that inflation is moving down sustainably toward its objective."

The Key Takeaways:

For the outcome of the FOMC minutes, follow the thread on X.

Overall the FOMC minutes released on Wednesday implies that we may see a fractional hike in interest rate in November or December and this shouldn't impact crypto markets severely. However, this can easily impose 5% to 10% decline in overall crypto market cap.

Note: The article shouldn't be treated as financial advice. Kindly DYOR before making any financial decision.

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