Bitcoin Investors Attention: FED Manager Speaks About Interest Rates!
Chicago FED President Austan Goolsbee made a new speech.
It is seen that there have been very sharp declines in the money markets in the recent period, including today. The leading cryptocurrency Bitcoin (BTC) and altcoins also had their share of these declines.
Crypto assets have still failed to recover.
Important analysts of money markets began to pressure the US Federal Reserve (FED) to reduce interest rates and print money after the recent crashes.
Recently, Chicago FED President Austan Goolsbee appeared before CNBC cameras and said the following about interest rates:
Employment figures were lower than expected, but do not yet indicate a recession.
The FED needs to be forward-looking when making decisions.
We expected some weakness in the manufacturing sector due to the effects of the pandemic.
Economic growth continues at a stable level.
On the other hand, GDP data came slightly stronger than expectations.
The stock market has much more volatility than the Fed.
Asked about an emergency interest rate cut, Goolsbee said: "Everything is always on the table, including increases and reductions."
If the economy gets worse, the Fed fixes it.
I have been saying for some time that we are in a balanced risk position.
We must respond to circumstances in general; Inflation has fallen a lot and employment is in a relatively good place.
The Fed can expect more data before its September meeting.
If stock market movements signal to the FED that growth will slow down in the long term, we must react.
