Cryptocurrency market and all global markets in general have been experiencing an incredible earthquake recently. While one of the main reasons for this is inflation, it can be said that the other reason is the financial policy of the USA.
The famous head of the Federal Reserve, who decided to continue with rate hikes Jerome Powell got Senate approval to continue this for a while.
Powell, President for 4 More Years
The US Senate has officially approved Powell to be Chairman of the Fed for another four years. Jerome Powell, who will determine the FED’s policies, seems to be in his seat after the crisis.
Fed Chairman Powell’s vote in the Senate 19 votes to 80 appears to be selected. Increasing inflation and reaching levels not seen in US history suggested that Powell might not be elected, but it was not expected.
One of the previous presidents, Barack Obama, also named Powell. Fed Chairman and Trump continued to do so. quarreling with Trump powell It was later endorsed by Biden.
Powell has already approved rate hikes, but getting approval for a second term could help keep him a little more generous. The effects of the Fed’s election as President are yet to be seen, and the first data on this can be seen at the next Fed Open Committee Meeting.
US Dollar reacted positively to this and continued for days. its rise against TL, continued at opening time. As of now, there is an increase of 0.59% against TL.