India, May 29 -- A subdued tone is visible in the cryptocurrency markets as the cautious mood reflected in the minutes of the Federal Open Market Committee weighed on sentiment. Almost all participants of the FOMC commented on the risk that inflation could prove to be more persistent than expected.
The Federal Reserve, in its meeting held earlier in the month reiterated its warnings about the likelihood of inflation and unemployment rising alongside, resulting in difficult trade-offs.
According to the minutes released on Wednesday, participants cited the increase in uncertainty about the economic outlook and a rise in the risks of both higher unemployment and higher inflation to maintain the federal funds rate at current rates. Participan...