Fed’s Collins warns higher rates may be needed. What does it mean for crypto?

Federal Reserve Bank of Boston President Susan Collins has warned that higher interest rates may sometimes be necessary to control inflation, even as borrowing costs continue to make housing less affordable across the United States. Boston Fed President Susan Collins said higher interest rates may sometimes be necessary to control inflation, despite making housing more expensive. Collins argued that tighter monetary policy can hurt housing construction and mortgage demand but helps maintain price stability over the longer term. Bitcoin fell below $70,000 as investors weighed inflation concerns and the possibility of further Federal Reserve interest rate hikes. US spot Bitcoin ETFs recorded nearly $300 million in withdrawals on November 11, with BlackRock's IBIT accounting for most of the outflows.

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