Fed officials have delivered key remarks with implications for crypto market
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While Waller thinks rate cuts might be near, he highlighted that he will closely monitor the data in the meantime. Waller’s sentiments suggest the unlikelihood of a rate cut when the Federal Open Market Committee meets later this month, but a higher likelihood of one in September.Waller outlined three potential scenarios for the coming days: one in which inflation data becomes even more positive, justifying a rate cut in"the not too distant future"; a second in which the data fluctuates but still points to moderation; and a third in which inflation rises and forces the Fed to tighten policy.
A rate cut in July is currently considered highly unlikely, but traders are increasingly banking on the Federal Reserve cutting interest rates in September. There is presently less than a 5% likelihood that the Fed's target range for the federal funds rate, its key rate, will be reduced in July; but, the odds of a September cut are currently greater than 90%.At the time of writing, Bitcoin was slightly down 0.
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