Bitcoin

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/fed-statements-impact-bitcoin-and-u-s-economy/" data-wpel-link="internal">Fed Statements Impact Bitcoin and U.S. Economy</a><br></p>
<p style="text-align: justify">Last night, after the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">Fed</a>‘s announcements, <a href="https://en.coin-turk.com/the-unprecedented-climb-of-gold-and-cryptocurrencies-a-tale-of-economic-signals/" data-wpel-link="internal">BTC</a> now stands at $62,000. As the U.S. economy drifts from the narrative of a soft landing, concerns in risk markets are increasing. Although the Fed wants to lower <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">interest rates</a>, it has moved away from a target of a 75bp cut. The latest inflation data shows that the Fed faces significant challenges in its fight.</p> 
<h2 style="text-align: justify" id="fed-statements">Fed Statements</h2> 
<p style="text-align: justify"><strong>Fed</strong> member Collins is currently making statements about the current situation. Collins dampened hopes by discussing the risks of starting <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">interest rate</a> cuts early. While a 150bp rate cut was expected at the beginning of 2024, today markets are not even sure of a 75bp cut. Here are the key points from Collins’ statements;</p> 
<blockquote> 
 <p style="text-align: justify">“I think demand needs to slow down for inflation to reach 2%. The recent declines in inflation are not surprising. Companies are well-positioned to absorb faster wage increases. There are risks in reducing interest rates too early. I do not expect the increase in productivity to be permanent. Monetary policy is ‘moderately’ restrictive. The economy is strong, and the employment market is reaching a better balance. I am optimistic that the Fed can reach 2% inflation within a reasonable timeframe.”</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-349188 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/fed-faiz-indirim-rotasi.png" alt="" width="647" height="575"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/fed-statements-impact-bitcoin-and-u-s-economy/" data-wpel-link="internal">Fed Statements Impact Bitcoin and U.S. Economy</a></h5>

Fed Statements Impact Bitcoin and U.S. Economy

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