Why Markets Viewed the Fed's Latest 75 Basis Point Hike as 'Dovish'

Bitcoin is up more than 10% since the FOMC presser.

Listen or watch all the new CoinDesk podcast episodes wherever you want.

ABOUT

This episode is sponsored by Nexo.io, Chainalysis and FTX US.

Yesterday was “Fed Day” and the U.S. Federal Reserve announced its second 75 basis point interest rate hike in a row. Despite the fastest pace of monetary tightening in a generation, markets rallied after Chair Jerome Powell’s presser. On today’s episode, NLW explains why so many in the market interpreted the Fed’s Q&A as dovish, and what it means going forward.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Drew Angerer/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.