Fed Member Collins Discusses Interest Rate Cuts..

Volatility in cryptocurrencies continues, and BTC price is around the $61,000 mark. Yesterday’s minutes were extremely positive. Now, Fed member Collins is making some important statements. Although unemployment data came in higher than the previous month, BTC saw some selling before the US stock markets opened. If demand does not increase at the market opening, a similar decline could occur in a few hours.

Fed Statements and Crypto

Investors are tired of the price dropping at the end of every rise and now it needs to reverse. For now, BTC is around the $61,000 mark, but $61,400 is a safe zone. On the other hand, belief in interest rate cuts is strengthening. Collins stated in his recent announcement that the time has come for interest rate cuts.

The labor market is generally quite healthy, and we want to maintain this.

Unemployment is still low, and unemployment claims indicate a regular rebalancing.

The Fed is generally in a healthy position, and maintaining this is important.

The employment market is healthy despite revisions.

Inflation data is consistent with greater confidence that inflation will return to 2%.

The time has come to start cutting interest rates.

After switching to a different policy stance, a gradual and methodical pace of reduction will be appropriate.

We still see some ongoing resilience among consumers, although there are also stress points.

We do not see red flags in consumption data.

Inflation and employment have reached a better balance.

Follow Us

Like

Share

Comment