𝗙𝗲𝗱'𝘀 𝗦𝗵𝗶𝗳𝘁 𝗔𝘄𝗮𝘆 𝗳𝗿𝗼𝗺 𝗧𝗶𝗴𝗵𝘁 𝗠𝗼𝗻𝗲𝘁𝗮𝗿𝘆 𝗣𝗼𝗹𝗶𝗰𝘆 𝗠𝗮𝗿𝗸𝘀 𝗠𝗮𝗷𝗼𝗿 𝗧𝘂𝗿𝗻𝗶𝗻𝗴 𝗣𝗼𝗶𝗻𝘁! 𝗗𝗲𝘁𝗮𝗶𝗹𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗙𝗲𝗱’𝘀 𝗟𝗮𝘁𝗲𝘀𝘁 𝗠𝗶𝗻𝘂𝘁𝗲𝘀 𝗨𝗻𝘃𝗲𝗶𝗹𝗲𝗱...
The Federal Reserve’s series of interest rate hikes have historically had a negative ripple effect on the cryptocurrency market. Now, we're analyzing the recent meeting where the central bank made its first move towards cutting rates. Discussions within the meeting raised the potential for quicker rate cuts, a development that could prove beneficial for risk assets. This year, the Fed is predicted to reduce rates by 75 basis points, aligning with revised member projections from the last gathering. These downward adjustments in rate expectations are largely seen as encouraging for the market. The most significant points from the minutes are outlined below:
Key insights from the Fed minutes have been disclosed.
Several participants highlighted that future decisions will be based on evolving economic data and the overall risk outlook, rather than sticking to a predetermined course. Some attendees mentioned that a modest 20 basis point rate cut might suggest a smoother path toward normalization.
Numerous officials stressed the importance of signaling that quantitative tightening could persist even in the face of rate reductions. Despite expectations of solid economic performance leading into the September meeting, economic forecasts for late 2024 have been revised downward due to weaker labor market trends.
Additionally, the possibility of a 45 basis point cut in November has become more likely, adding another layer of complexity to the Fed's upcoming decisions.
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