Bitcoin Stuck Below $10K as Stocks Drop
With the Fed dashing hopes of a V-shaped recovery, it's uncertain whether bitcoin will become a store of value or begin to track stocks.
The central bank doesn’t want to pull back asset purchases just yet, Powell said Wednesday.
The U.S. central bank said interest rates will remain close to zero.
The question is whether Powell will allow bond yields to keep rising or if the Fed will step in to ward off any unwanted market reaction.
When FOMC minutes suggested the Federal Reserve might not employ yield curve control, the markets reacted angrily.
The Federal Reserve said Wednesday it would hold benchmark U.S. interest rates close to zero and continue buying Treasury bonds to support the coronavirus-devastated economy.