Fed Preview: How Rate Hikes Could Stimulate Demand for Stablecoins

Fed Preview: How Rate Hikes Could Stimulate Demand for Stablecoins
With the price of bitcoin (BTC) tanking and the U.S. Federal Reserve now moving to tamp down rising inflation, some analysts think dollar-pegged stablecoins could be this year’s winning crypto trade.The Federal Open Market Committee (FOMC), the Fed’s monetary policy-setting committee, holds its January meeting starting Tuesday. Traditional and crypto investors will be awaiting what is said during this meeting, likely the last before several interest rate increases are announced during this year.While other central banks may keep their monetary policy loose, the Fed is expected to tighten in order to slow increasing inflation. The U.S. Consumer Price Index (CPI)…