According to Pantera Capital’s CEO Dan Morehead, the US Federal Reserve’s “twin policy errors” have caused a “self-inflicted calamity.” The Fed made the error of keeping overnight rates too low for too long, which it is now gradually correcting, according to Morehead. He claimed that the “more harmful” of the two policy mistakes is not making “any real reduction” in their enormous bond holdings. I'll be discussing these Fed policy mistakes and reactions we are seeing in crypto with @MelissaLeeCNBC on @CNBCFastMoney soon at around 5:00pm EDT. https://t.co/YNcQdUx8mh — Dan Morehead (@dan_pantera) June 29, 2022 According to Dan Morehead, the Fed has purchased government and mortgage bonds equaling more than 200 percent of all mortgage lending in the United States over the previous two years, causing the markets to be $15 trillion overpriced compared to the 50-year real rate. Cascading Collapse of Major Projects Morehead said, “I’m very concerned that the Fed doesn’t seem to have any sense of what is causing inflation — their manipulation of the mortgage market,” Dan Morehead believes that once the Fed begins to unwind, it will drain excess liquidity from the market, causing asset values to correct. The cascading failure of significant cryptocurrency initiatives revealed the huge amount of excess leverage in the market. He thinks that in the ensuing months, this might cause a few more “big meltdowns” in the cryptocurrency market. ...
XRP Price To Hit ATH This Week : Here’s Why
