Wall Street’s slow embrace of crypto means we all have to start watching the Federal Reserve again. Cointelegraph reviewed Wednesday’s Federal Open Market Committee(FOMC) policy statements to uncover useful and interesting information. You can think of it as an exercise in financial esoterics to uncover the hidden meaning behind the Fed’s decision-making. The decision to raise the interest rate by 50 basis point was expected so there wasn’t much new in the FOMC document. But, Fed Chair Jerome Powell This sparked an unexpected rally in crypto and stocks on Wednesday when he said 75 basis-point increases aren’t on the table.

You wanted the institutions to adopt crypto, didn’t you? Now, the asset class is trading almost in lockstep with other risk assets such as stocks, which means the Fed’s actions, words, intentions and expectations matter — at least for the foreseeable future.

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