Unhappily for rate hawks, that was above the typical economist forecast and represented a notable uptick from the February number. That being said, the Tuesday losses were, by and large, not massive. " That's the general mood on interest rates these days from the Fed and other government officials following the latest data on inflation, which, according to the Bureau of Labor Statistics, rose by 3. This isn't shaping up to be a banner week for crypto, as some of the top altcoins in the space lost value Tuesday. On Wednesday, both strongly indicated that the likeliness of the central bank cutting its key interest rate was dropping. The Motley Fool has a disclosure policy. The Motley Fool has positions in and recommends Chainlink. And the less utility a particular cryptocurrency has, the more downside potential opens up below it. When safety plays become more attractive, the market as a whole tends to sell out of the riskier assets. When rates climb, so too do the safest securities on the market (considered to be government bonds).
