Fed Policy Win Could Harm Bitcoin’s Wall Street Narrative

CoinDesk reported:

A nuclear-armed Russia was at war with Ukraine, supply chains were choking due to COVID-19 and war disruptions, and inflation was at its highest level in 40 years. The concern was that the Fed, which had embarked on an aggressive set of rate hikes, would not only fail to break the back of entrenched inflation but its actions would create such severe hardship that it would be forced under overwhelming political pressure to backtrack. That failure, some believed, would ultimately lead to a loss of confidence in the world’s most powerful central bank and, by extension, in the dollar. By contrast, bitcoin would shine as a reliable math-driven alternative, immune to such human failings.

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