Did anyone mention crypto? đđ¶
What to expect from the FOMC meeting nowđ
đ FOMC Meeting: The Federal Open Market Committee (FOMC) is set to meet yesterday, September 17, and today, September 18, 2024.
đ€What is the market expecting?: The meeting is expected to result in the first in a series of interest rate cuts, following Jerome Powell's statements at the Jackson Hole Symposium.
đ°Impact on Cryptocurrencies? Rate cuts could recalibrate the economic outlook and have significant effects on cryptocurrency markets, known for their sensitivity to macroeconomic changes.
đŒWhat are the Current Interest Rates?: Current rates in the US are 5.25%-5.50%, the highest in 23 years, following aggressive measures to combat inflation.
đœMarket Predictions: Prediction markets suggest a strong belief in a rate cut, with a 70% chance of a 25 basis point decrease.
đČImpact on Crypto Prices: Historically, rate cuts are bullish for cryptocurrencies. Lower borrowing costs could increase liquidity and demand for riskier assets, such as cryptocurrencies.
Let us know what you are waiting for dear traderđž
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