Details from the meeting minutes of#Fed ...

This meeting marked a significant shift, as rate hikes have historically had negative effects on the cryptocurrency market. Now, let’s dive into the specifics from the meeting where the decision to cut rates was made. Members discussed the possibility of a more rapid rate cut and the positives this could bring to the risk market.

The Fed is expected to cut rates by 100 basis points this year, and the median forecasts from members were updated at the last meeting. This significant reduction is seen as a positive sign. Here are the key takeaways from the minutes:

Fed meeting minutes released

Participants emphasized the importance of making decisions based on economic developments and balancing risks, rather than following a set plan.

Some members also suggested that a 25 basis point cut could facilitate an easier normalization path in the future.

Several Fed officials have stressed that quantitative tightening could continue for some time, even as interest rates fall. While the economy remained strong at its September meeting, growth for the second half of 2024 has been revised down due to weaker labor data.

Finally, the possibility of a 50 basis point cut in November has increased.

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