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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/fed-officials-signal-economic-pressure-on-crypto/" data-wpel-link="internal">Fed Officials Signal Economic Pressure on Crypto</a> 
We mentioned on Sunday morning that this week would be heavily filled with statements from Fed members. While the article was being prepared, Fed member Mester was making some remarks. The recent comments by Powell and strong employment data have intensified the macroeconomic pressure on crypto. So, what was Mester saying while the article was being prepared? 
<h2 style="text-align: justify" id="fed-statements">Fed Statements</h2> 
Loretta J. Mester, the president of the Cleveland Federal Reserve Bank, was making some comments about interest rate cuts while the article was being prepared. The markets have been overly optimistic about interest rate cuts, as we have been warning for a while. However, both strong employment data and wage increases, as well as comments from Fed members about a 75bp cut, suggest the opposite. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-311939 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/Fed-Faiz-Indirim-Tahminleri.png" alt="" width="572" height="535"> 
Fed has so far done as it said, and a period similar to the overly optimistic season around March of last year could yield results against investors’ interests. Back then, most were expecting early interest rate cuts due to <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> problems in banks, and we all remember what happened as if it were yesterday. 
Fed Member Mester said the following while the article was being prepared; 
<blockquote> 
 “I expect the Fed to gain confidence about moving towards interest rate cuts later this year. We must be cautious against the risk of the labor market cooling faster than expected. To open the door for a rate cut, inflation must fall sustainably. If inflation does not decline, the Fed can maintain its current policy. Wage increases are still too high to reach 2% inflation. Cutting interest rates early would be a mistake. It’s possible that inflation could be more persistent than expected. The issue in the Red Sea has not yet disrupted supply chains.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/fed-officials-signal-economic-pressure-on-crypto/" data-wpel-link="internal">Fed Officials Signal Economic Pressure on Crypto</a></h5>

Fed Officials Signal Economic Pressure on Crypto

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