On the other hand, the Fed also might move to tamp down inflation by tightening monetary policy, which could crimp economic growth and put downward pressure on stock prices and, lately, bitcoin has been unusually correlated with stocks. The last time the U.S. saw inflation at the current, elevated levels was in the early 1980s, and the Fed, then led by Paul Volcker, raised the benchmark interest rate to nearly 20%.
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