FED Managers Commented on Interest and Inflation Rates!
FED officials are cautious about inflation and interest rate cuts.
There are declines in the cryptocurrency industry as of today. It was observed that during the hours when the leading cryptocurrency Bitcoin (BTC) lost value, US Federal Reserve (FED) managers began to make statements about the US economy.
Recently, Cleveland FED President Loretta Mester and Chicago FED President Austan D. Goolsbee appeared in front of the cameras. Here are the latest critical statements made by FED managers:
“There is still work to be done to gain confidence in inflation.
I would like a few more months of similar inflation data.
We probably won't reach 2% inflation until 2026.
I want the job market to remain healthy while inflation declines.
Businesses say it's harder to raise prices this year.
This week's CPI data was very good, if we had more months like May's CPI data we would feel much better.
For interest rate cuts, we need to see some further progress in inflation declines.
"What will determine whether interest rates return to normal in the near and medium term is whether inflation is on a path towards 2%."
FED managers, who are still cautious about inflation and interest rate cuts, do not seem to be making very positive statements on behalf of crypto assets.
