As it is known, the FED announced the last interest rate decision of 2023 and left interest rates constant.
While this decision increases the expectations that the FED will cut interest rates in 2024, BlackRock manager Jeffrey Rosenberg, one of the world's largest asset managers, who applied for a spot Bitcoin ETF in the summer and caused a rally in BTC and altcoins, evaluated the FED's decision.
Speaking to Bloomberg, BlackRock fund manager Jeffrey Rosenberg described the FED's pausing of interest rates and hinting at an interest rate cut next year as a “green light” for cryptocurrency investors.
“The bullish sentiment created by the Fed's decision and its hints about a rate cut may continue for a while, at least until we get new economic data, and until then the message is clear: Because the FED is more than willing to see an easing in financial conditions.
The Fed is happy with this trend and is now willing to take action for change.
“At this point, I don't think the FED will do anything to prevent this positive trend.”
Blackrock manager Rosenberg also stated that the FED's first interest rate cut may come in the summer and said, “If I have to choose a month, I would say June.”
*This is not investment advice.