Fed Cuts Rates, But Powell’s Warning Sends The Crypto Market Lower

us recession, Jerome Powell, december rate cut, us dollar index, us unemployment. Photo by BeInCrypto Fed Chair Jerome Powell's statement that a December interest rate cut is "far" from certain has stirred financial markets. The US Dollar Index (DXY) surged to its highest level since August. Meanwhile, major cryptocurrencies suffered declines despite the Fed's latest rate reduction. This reaction, described by analysts as a "hawkish cut," suggests the Fed aims to temper expectations for further monetary e ...