The Federal Reserve might skip a rate hike this June as pressure mounts on banks and indebted businesses. How could this affect Bitcoin? Check here -
Historically high-interest rates in the United States could “exacerbate” stress in an already shaky banking system, said a member of the Federal Reserve’s Board of Governors on Wednesday.
While claiming that the banking system had “stabilized” following multiple bank runs and foreclosures in March, the governor recognized the risks associated with elevated short-term interest rates, which are “5 percentage points higher than they were a little over a year ago.”
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