Attention Bitcoin Investors 🔥 FED Manager Speaks About Interest Rate Cuts!
Could the FED start to increase interest rates again?
Although cryptocurrency investors have recently moved away from the interest rate developments of the US Federal Reserve (FED) due to the Ethereum spot ETF agenda, the decisions taken by the FED still direct the financial markets and the crypto sector.
Recently, Minneapolis FED President Neel Kashkari appeared in front of the cameras and shared his latest thoughts on interest rate cuts.
Kashkari, who said that the FED will not make more than 2 interest rate cuts specifically for 2024, included the following words in his last statement:
“I don't think anyone is taking interest rate hikes off the table, but I will definitely not support more than two interest rate cuts for 2024.
The US labor market has softened but remains tight.
Wage growth is still quite strong relative to the 2% target.
If there is a surprise in the data, the FED will do what it has to do.
The short-term neutral interest rate may have increased temporarily.
The economy is uncertain right now, we may be on hold for a while.
“I think the possibility of the FED increasing interest rates again is quite low.”
The leading cryptocurrency Bitcoin (BTC) is trading at 68 thousand dollars at the time of writing our news. BTC is still holding on to the $67,500 support after the sudden drop in the morning hours.
