Crypto NewsAltcoinFED Member Spoken! Will We See a Summer Rally in Bitcoin and...

FED Member Spoken! Will We See a Summer Rally in Bitcoin and Altcoins?

Raphael Bostic talked about monetary policy.

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Fed member and Atlanta Fed Chairman Raphael Bostic spoke about monetary policy.

While wondering whether the FED will put a stop to the rate hikes in June, Bostic's statements today are as follows:

  • I don't think inflation is falling fast.
  • Interest rate cuts are not on my agenda. From my point of view we won't be discussing rate cuts before 2024.
  • We still have a long way to go on inflation. We can continue with these interest rates.
  • If we need to make a change to interest rates, I have an idea of going higher.
  • In the next few months, mathematics will start to work in our favor. The economy will move in our favor on inflation.
  • Business and household data indicate that high inflation will continue in the short term.
  • High inflation says we may need more rate hikes.
  • Waiting for appropriate policy and monitoring the effects of their tightening so far.
  • Expect credit tightening to increase at banks in Atlanta
  • There is some risk in a recession. These occurred before the credit risk materialized and I am not new to it.
  • If we go into a recession, it won't be a long and deep recession.

FED Will Determine The Direction Of Bitcoin

FED member Bostic said that although his hawkish stance on inflation, the next monetary policy stance should be "wait and see". This shows that the FED is likely to skip the interest rate in June.

When the latest inflation data are below expectations, the current interest rate is above inflation, and other data are considered together, it seems likely that the FED will enter a stagnation period as of June.

Such a scenario could lead to a nice summer rally in long-oppressed altcoins and Bitcoin.

*Not Investment Advice.

Buradaki Yorumlardan Bildirim Al

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