Cryptocurrency

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/fed-member-collins-discusses-interest-rate-cuts-2/" data-wpel-link="internal">Fed Member Collins Discusses Interest Rate Cuts</a> 
Cryptocurrency volatility continues, and <a href="https://en.coin-turk.com/satoshi-era-bitcoin-wallet-springs-to-life/" data-wpel-link="internal">BTC</a> price is around the $61,000 mark. Yesterday’s minutes were extremely positive. Now, Fed member Collins is making some important statements. Although unemployment data came in higher than the previous month, BTC saw some selling before the U.S. stock markets opened. If demand does not increase at the market opening, a decline similar to previous ones may occur in a few hours. 
<h2 style="text-align: justify" id="fed-statements-and-crypto">Fed Statements and Crypto</h2> 
Investors are tired of prices falling at the end of every rise and now need this to reverse. For now, BTC is around $61,000, but $61,400 is a safe zone. Meanwhile, belief in interest rate cuts is strengthening. Collins stated in his <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">recent announcement</a> that the time for interest rate cuts has come. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-382304 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/Fed-faiz-indirim.png" alt="" width="805" height="302"> 
We can summarize the key points of the ongoing statement as follows: 
<ul> 
 <li style="text-align: justify">The labor market is generally quite healthy, and we want to maintain this.</li> 
 <li style="text-align: justify">Unemployment is still low, and unemployment claims indicate a regular rebalancing.</li> 
 <li style="text-align: justify">The Fed is generally in a healthy position, and maintaining this is important.</li> 
 <li style="text-align: justify">The employment market is healthy despite revisions.</li> 
 <li style="text-align: justify">Inflation data is consistent with greater confidence that inflation will return to 2%.</li> 
 <li style="text-align: justify">The time to start cutting <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a> has come.</li> 
 <li style="text-align: justify">After shifting to a different policy stance, a gradual and methodical pace of reduction will be appropriate.</li> 
 <li style="text-align: justify">We still see some ongoing resilience among consumers, though there are stress points.</li> 
 <li style="text-align: justify">We do not see red flags in consumption data.</li> 
 <li style="text-align: justify">Inflation and employment have reached a better balance.</li> 
</ul> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/fed-member-collins-discusses-interest-rate-cuts-2/" data-wpel-link="internal">Fed Member Collins Discusses Interest Rate Cuts</a></h5>
The post <a href="https://en.coin-turk.com/fed-member-collins-discusses-interest-rate-cuts-2/" data-wpel-link="internal">Fed Member Collins Discusses Interest Rate Cuts</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Fed Member Collins Discusses Interest Rate Cuts

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