Bittime - Jerome Powell, Chair of the Federal Reserve, recently indicated that interest rate cuts may be further away than previously thought. This is due to recent inflation data contradicting previous expectations of a rapid decline.
Slowing Interest Rate Cuts Following Inflation Data
Jerome Powell acknowledged that despite initial progress, the inflation rate has not shown sustained improvement towards the Fed's desired 2% target. This makes the Fed more willing to keep interest rates steady "as long as necessary."
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Changes in Market Expectations and Their Impact on Bitcoin
The change in the Fed's view on interest rates influenced market expectations and also reignited the debate about Bitcoin's effectiveness as an inflation hedge.
Investors and economists are starting to adjust their expectations to the Fed's decision. Although the Fed previously signaled three rate cuts, futures markets now reflect predictions of only one or two rate cuts this year.
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Next Federal Open Market Committee Meeting
The next meeting of the Federal Open Market Committee on April 30 – May 1 2024 is expected to provide additional clarity regarding the Fed's policy regarding interest rates.
Also read: FedNow: Instant Payment Revolution in the Digital Era
Bitcoin As a Hedge Against Inflation
New statements from the Fed have put a new spotlight on Bitcoin's role as a hedge against inflation. Volatility and sensitivity to global factors complicate Bitcoin's position as a reliable hedge.
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Experts' Views On Bitcoin and Hong Kong ETFs
Experts are divided on the impact of Bitcoin ETFs on Hong Kong. While some consider it a positive addition to Bitcoin in the long term, others highlight the potential market limitations and cultural preferences of investors in the region.
Conclusion: Policy Changes and Their Impact on Crypto Markets
The Fed's policy shifts and the debate surrounding Bitcoin's ability as an inflation hedge will continue to be key factors influencing cryptocurrency markets in the coming months. This shows the importance of monitoring developments in global economic policies in investing in the crypto market.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
The Fed's New Priority: Digital Dollar Presented to US Congress
Bitcoin Price Rise: BTC Buy Entry Point Amid Crypto Wave Driven by Fed's Dovish Tone
Bitcoin Experiences a Sharp Decline, Here Are Tips for Being Safe and Calculating Risk
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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