Crypto Daily – From a fairly comfortable expectation of another Fed rate cut in December, the market has reacted negatively to Fed Chairman Jerome Powell’s remarks on Thursday, hinting that a December rate cut may not be forthcoming. Stocks fell on the news, and ($BTC) suffered a dip before staging a recovery early on Friday.
Fed Head talks markets down
With a higher inflation figure having raised its ugly head recently, the Federal Reserve’s balancing act has become even more acute than ever. Fed Chairman Jerome Powell has reacted to this by making hawkish comments at a conference on Thursday, saying:
“The economy is not sending any signals that we need to be in a hurry to lower rates,”
The chairman of the Federal Reserve maintained his view that the U.S. economy was strong, and that any decisions on rate cuts, or otherwise, would be taken “carefully”.
When the comments were made, the Fedwatch tool on the CME Group (NASDAQ🙂 website…
Read More