Rajarshi Mitra
Independent Analyst
- The US Federal Reserve had earlier announced a policy shift to “average inflation targeting.”
- The policy allows dollar inflation to run higher than the standard 2% target before hiking interest rates.
- Visa exec Andy Yee has asked investors to “opt-out” of Fed’s tactics with Bitcoin.
Andy Yee, the Senior Director of Public Policy at Visa, has suggested investors to “opt-out” of the Federal Reserve’s money-printing tactics with Bitcoin and pointed to a new bullish indicator. Yee took to Twitter to criticize Jerome Powell, the Chair of the US Federal Reserve, for enforcing policies that devalue the dollar.
In an earlier speech, Powell had announced a vital policy shift to “average inflation targeting” and allow dollar inflation to run higher than the standard 2% target before hiking interest rates. Yee called Powell’s speech one “for the history books.”
The US dollar currency index (DXY) is a metric that measures the dollar’s value in relation to a bunch of foreign currencies. While the DXY has been gradually declining since March, the index fell to 92.28 after the Federal Reserve’s policy change.
Many analysts have said that the DXY is a bullish indicator for Bitcoin and other “safe haven” assets that benefit from investor insecurity over fiat. Real Vision founder and CEO Raoul Pal took to Twitter to say that Powell’s “zero tolerance for deflation” would do good for BTC and gold.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin holds $84,000 despite Fed’s hawkish remarks and spot ETFs outflows
Bitcoin is stabilizing around $84,000 at the time of writing on Thursday after facing multiple rejections around the 200-day EMA at $85,000 since Saturday. Despite risk-off sentiment due to the hawkish remarks by the US Fed on Wednesday, BTC remains relatively stable.
Crypto market cap fell more than 18% in Q1, wiping out $633.5 billion after Trump’s inauguration top
CoinGecko’s Q1 Crypto Industry Report highlights that the total crypto market capitalization fell by 18.6% in the first quarter, wiping out $633.5 billion after topping on January 18, just a couple of days ahead of US President Donald Trump’s inauguration.
Top meme coin gainers FARTCOIN, AIDOGE, and MEW as Trump coins litmus test US SEC ethics
Cryptocurrencies have been moving in lockstep since Monday, largely reflecting sentiment across global markets as United States (US) President Donald Trump's tariffs and trade wars take on new shapes and forms each passing day.
XRP buoyant above $2 as court grants Ripple breathing space in SEC lawsuit
A US appellate court temporarily paused the SEC-Ripple case for 60 days, holding the appeal in abeyance. The SEC is expected to file a status report by June 15, signaling a potential end to the four-year legal battle.
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.