Fed Keeps Steady

The federal reserve meeting at Jackson Hole Wyoming on Wednesday concluded with the Fed keeping interest rates steady and conveying the goal of meeting a 2% a year inflation rate. No big surprises emerged from the meeting and subsequent talk from Jerome Powell , head of the Federal Reserve Bank. The stock market responded with precious metals taking a small dip along with cryptocurrency and blockchain stocks. It remains to be seen if the Fed can maintain this goal with the amount of Federal money that has flooded the system since the start of the Covid-19 crisis.

Precious metals and crypto stocks rebounded on Thursday with $RIOT making significant gains at the time of this post. Silver and Gold both made gains in the day. Cryptocurrency markets responded well with gains across the board.

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