Philadelphia Fed's Paulson says 'modest' further tightening may be needed
- —Paulson: underlying inflation at 2.5%-3%, well above the 2% target
- —The Fed raised rates a quarter point to a 3.75%-4% range last week
- —Markets price a 64% chance of another hike in October
- —Fed funds futures imply a 4.8% rate by the end of 2027
Why it matters: Rising rates and Treasury yields pressure bitcoin and risk assets, deepening the crypto market correction.
Source: CNBC Crypto