<ul> 
 <li>Esther George believes that the majority of financial market participants support the view that the central bank is likely to eliminate interest rate hikes over the next few years.</li> 
 <li>The upcoming monetary policy decision of the US central bank will take into account the key target of achieving 2% inflation to restore price stability in the US economy.</li> 
 <li>The CME FedWatch Tool, which measures the probability of the Fed’s decision on the federal target interest rate in FOMC meetings, shows a 99% confidence among traders that interest rate hikes will be halted.</li> 
</ul> 
Former FED President shared his views on how the FED’s interest rate policy will progress: Will the FED avoid further interest rate hikes? 
<h2 id="strong-former-fed-chair-talks-about-interest-rate-decision-strong">Former Fed Chair Talks about Interest Rate Decision</h2> 
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Ahead of the Federal Open Market Committee (FOMC) meeting of the US central bank, former Kansas City Fed President Esther George stated that the majority of financial market participants support the view that the central bank is likely to eliminate interest rate hikes over the next few years. This came amid widespread expectations that the Fed could keep the current target interest rate at the 525-550 basis point level. 
The upcoming monetary policy decision of the US central bank will take into account the key target of achieving 2% inflation to restore price stability in the US economy. On September 13, 2023, COINOTAG reported the Consumer Price Index (CPI) data for August 2023. According to data from the US Bureau of Labor Statistics, the annual inflation rate came in higher than expected at 3.7%. This marked the second consecutive month of rising inflation. 
George stated that the communication of the US central bank is clear in prioritizing price stability. She mentioned that the Fed is focused on maintaining price stability in the economy. However, the former Fed Chairman warned that achieving and sustaining the inflation target could have a cost on the US labor market. She suggested that the Fed could halt interest rate hikes and assess the development of data, especially the direction of disinflation trends. 
<h2 id="strong-how-will-bitcoin-price-be-affected-strong">How Will Bitcoin Price Be Affected?</h2> 
The Bitcoin price gained upward momentum ahead of the FOMC meeting, where there is high consensus. However, the further direction of the crypto market may be determined by investors’ reaction to Fed Chairman Jerome Powell’s speech. Powell’s speech could emphasize whether the central bank’s future interest rate decisions will be accommodative or tight. 
The CME FedWatch Tool, which measures the probability of the Fed’s decision on the federal target interest rate in FOMC meetings, shows a 99% confidence among traders that interest rate hikes will be halted. Therefore, comments surrounding inflation targeting in Powell’s speech will be closely monitored. 
The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/former-fed-chair-reveals-interest-rate-decision-prediction-how-will-bitcoin-be-affected/">Former Fed Chair Reveals Interest Rate Decision Prediction! How Will Bitcoin Be Affected?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.

Former Fed Chair Reveals Interest Rate Decision Prediction! How Will Bitcoin Be Affected?

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