Reserve Dollar

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<ul>
 <li>Polymarket traders are betting on the Federal Reserve’s rate cut scheduled for September 17-18.</li>
 <li>BTC price is likely to decline as a potential rate-cutting cycle approaches this month.</li>
</ul>
As of September here, the anticipation is high that the Federal Reserve’s Federal Open Market Committee (FOMC) meeting, scheduled for 17 and 18 of this month, might decrease the federal funds rate.&nbsp;
Notably, the prediction platform, Polymarket, traders are <a href="https://polymarket.com/event/fed-interest-rates-september-2024?tid=1725352353675" target="_blank" rel="noopener noreferrer nofollow">betting</a> on the federal rate cut with a $10.9 million volume. A total of 77% of the traders expect a 25 basis point cut as the possible outcome. Whereas, 20% of traders stood for a 50 basis point reduction. The 4% believed that no rate cut would happen.&nbsp;
On the other hand, JPMorgan’s recent comments on the Fed rate decrease evoked panic among investors. The future interest rate reduction is at an all-time high, and the policy relaxation would be under slowing GDP, making it a reactive decrease, stated the investment giant.&nbsp;
JP Morgan stated that the uncertain labor market and declining inflation are forcing the US Federal Reserve to move away from its traditional approach to rate cuts. Despite this, JP Morgan believes the Fed could implement rate cuts quite sharply.&nbsp;
<h3 class="wp-block-heading" id="h-july-s-federal-reserve-rate-cut">July’s Federal Reserve Rate Cut</h3>
On July 31, the Powell-led panel <a href="https://thenewscrypto.com/can-a-fed-rate-cut-in-september-drive-a-bullish-crypto-move/" target="_blank" rel="noopener noreferrer nofollow">concluded</a> its fifth policy-setting meeting of 2024. That kept the borrowing rates steady at 5.25%–5.50% for the year. The Federal Open Market Committee (FOMC) convenes eight times annually to set monetary policies. At press time, there is an 85% expectation that the Fed will cut rates in September.
Despite the current downturn in the crypto market, it is believed that any dip will be short-lived. With Powell and the Fed poised to initiate a rate cut, increased liquidity is expected to drive risk assets higher. Meanwhile, market analysts predict that the largest crypto, BTC’s <a href="https://thenewscrypto.com/bitcoin-price-surges-to-59k-reaching-a-four-day-high/" target="_blank" rel="noopener noreferrer nofollow">price</a>, is expected to decline as market participants start a potential rate-cutting cycle this month.
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September Federal Reserve Meeting Expected to See 25 Basis Point Rate Cut As Traders Bet

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