Ethereum

Reserve Dollar

Core

Bitcoin

Reserve

<ul>
 <li>So far, market confidence has been spurred by recent remarks made by Fed officials.</li>
 <li>The market is projecting that the US PCE inflation number for July will be 0.2%, up from 0.1%.</li>
</ul>
Expectations on a possible <a href="https://thenewscrypto.com/federal-reserve-ends-enforcement-actions-against-silvergate-bank/" target="_blank" rel="noopener noreferrer nofollow">Federal Reserve</a> rate decrease in September skyrocketed, leading to a strong gain in the cryptocurrency market last week. <a href="http://ethereum.org" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> was trading at $2,800 while <a href="http://bitcoin.org" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> was close to $65,000 over the weekend. Next up, among other important events, are the US PCE numbers, which, among other things, will offer fresh clues about the inflationary pressure in the country.
So far, market confidence has been spurred by recent remarks made by US Federal Reserve officials. Just so you know, a number of recent statements, notably the one from Fed Chair <a href="https://thenewscrypto.com/fed-chair-jerome-powell-hints-rate-cuts-despite-inflation-above-2-target/" target="_blank" rel="noopener noreferrer nofollow">Jerome Powell</a>, suggest that the US central bank is inclined towards a more dovish policy posture moving forward.
<h3 class="wp-block-heading" id="h-september-rate-cut-likely">September Rate Cut Likely</h3>
The dovish remarks have solidified speculation that the US Federal Reserve would decrease interest rates at its September meeting. The current upswing in cryptocurrency prices is proof that this move has increased investor confidence.
Now, the market is waiting with bated breath for fresh signals from the Federal Reserve this week. President Mary Daly of the San Francisco Federal Reserve is scheduled to make an appearance in a television interview on Monday, August 26. Wednesday, August 28, will thereafter see the statements delivered by Raphael Bostic, president of the Atlanta Fed.
When the US PCE data is released, the financial market will have more information on inflation. The market is projecting that the US PCE inflation number for July will be 0.2%. Up from 0.1% in the previous month. It is anticipated to stay at 2.5% on a year-over-year basis.
At the same time, although the Core PCE data are forecast to stay at 0.2%, they are projected to show a YoY rise to 2.7% from 2.6% in June. Nevertheless, investors may feel discouraged if the data reveals that inflation is higher than expected.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/telegram-founder-pavel-durov-arrested-in-france-ton-drops-16/" target="_blank" rel="noopener noreferrer nofollow">Telegram Founder Pavel Durov Arrested in France, TON Drops 16%</a>

Fed Rate Cut Speculation Surges as Investors Await Key Inflation Data

Table of Contents

TheNewsCrypto

Other articles published on Aug 25, 2024

U.S Spot Bitcoin ETFs Reach August Peak with $252M Inflow

SOL, FET, RENDER: Top cryptocurrencies to watch this week

Thai authorities raid illegal Bitcoin mine behind local power outages

Altseason 2.0 Approaches: Key Phases to Maximize Your Crypto Profits

Shiba Inu (SHIB) Token Holder Swaps 5-Million Tokens & Buys Into Bitnance (BTN) Token Presale

9 of the weirdest crypto projects, from Dentacoin to Cthulu

Join our free newsletter for daily crypto updates!