RAte Hikes financial news Update 23 Sept

With the Federal Reserve rate hiking up by 75 basis points on September 21st, the market reaction took on a bearish appearance. With the market cap rising up to 919.4 billion which was a direct response to economic projections, rate statement, policy decision and the press conference with Fed Chair Powell, it then fell down to 859.2 billion. With inflation persisting, it is projected that the FFR (Fed Funds Rate) is going to hit 4.4% by the end of the year which is a definite upward revision from 3.4% in June of this year. The crypto market also responded adversely to the press conference, policy decision and projections. The NASDAQ 100 fell on Wednesday by 1.79% and DXY (Dollar Spot Index) rose to 111.344 a 1.02% increase. Cardano (ADA) is expected to see a boost in price as markets shift from Fed to Vasil hard fork. ADA has experienced an intense pressure for selling with a broader crypto marketSpet Sept- and is heading for a third loss in four sessions and coming down a high in September of $0.524.

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