Fed

Minneapolis Federal Reserve President Neel Kashkari, who previously called the cryptocurrency industry “worthless” and “nonsense,” still isn’t an uber-bull, though.

Fed Chair Jerome Powell’s speech later today could shake up markets as he will face questions about the central bank’s outlook on monetary policy and inflation after Donald Trump’s decisive win in the U.S. presidential election.

Bitcoin (BTC) just hit a new all-time high, but Ethereum’s ether (ETH) is the bigger winner.

Elevated interest rates in the U.S. have dented ether’s appeal as the internet equivalent of a bond, offering a fixed-income-like return on staking.

A 25-basis point Fed rate cut will likely be a non-event, and markets will be interested in what Powell thinks of President-elect Donald Trump’s inflationary policy cocktail of loose fiscal policy and import tariffs.