Travel And Tours
United States’ Federal Reserve hike pushes Bitcoin above $22,000
Flagship cryptocurrency asset, Bitcoin rallied above $22,000 moments after the United States Federal Reserve, led by Jerome Powell announced a new 0.75% (75 basis point) interest rate hike in a bid to tame the ever-increasing inflation rate.
A press release by the U.S. Fed stated, “The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 2.25% to 2.50% and anticipates that ongoing increases in the target range will be appropriate.”
The rally in the price of Bitcoin after the announcement indicates that market commentators were right as they had already expected that 75 basis points would be the Fed’s next move. Though expected, commentators, however, increasingly considered the implications of the central bank’s balancing act between taming inflation and avoiding recession going forward.
This is a developing story…
British-Nigerian, Kemi Badenoch emerges leader of UK Conservative Party
Serving NYSC members can apply – FIRS gives update on recruitment exercise
Supreme Court allows Pennsylvania to count contested provisional ballots, rejecting Republican plea
New Zealand introduces new visa category to support seasonal workers in 2025
Oluremi Tinubu Must See Young, Malnourished Detainees As Her Own Children, CISLO
Electricity Consumers Demand Disconnection Over Rising Tariffs
EFCC arrests Edo Accountant-General, others ahead of Gov Obaseki’s handover
“Some men think I’m misleading their wives, but I’m not advocating for divorce or separation cos I love family” – May Edochie corrects misconception
What You Need To Know As Man Utd Announce Amorim As New Manager
Woman stabs her husband to d3ath in Ibadan
Court Grants N1.1Bn Bail To 114 Protesters Accused Of Burning Public Facilities
Tinubu rejects NEC’s proposal to withdraw tax bill, urges Council to follow ‘legislative process’
Speaker Obasa Presents Vehicles To Lagos Assembly Senior Staff
FIRS begins recruitment of tax officers nationwide (how to apply)
Burna Boy’s mum must beg me on national TV for forgiveness – Speed Darlington
Top Stories14 hours agoServing NYSC members can apply – FIRS gives update on recruitment exercise
News15 hours agoElectricity Consumers Demand Disconnection Over Rising Tariffs
Tech14 hours agoNew Zealand introduces new visa category to support seasonal workers in 2025
Top Stories14 hours agoSupreme Court allows Pennsylvania to count contested provisional ballots, rejecting Republican plea
Politics14 hours agoOluremi Tinubu Must See Young, Malnourished Detainees As Her Own Children, CISLO
Top Stories15 hours agoEFCC arrests Edo Accountant-General, others ahead of Gov Obaseki’s handover
Top Stories39 mins agoBritish-Nigerian, Kemi Badenoch emerges leader of UK Conservative Party