On June 26, the cryptocurrency market remained stable as significant economic data emerged. GDP figures reported below expectations raise questions about the Federal Reserve's interest rate decisions.
Fed Officials Discuss Rate Cuts
Recently, three Fed members indicated that a rate cut could occur in July, provided no unexpected surprises disrupt the markets. There is an urgent need to finalize tariff agreements by the upcoming July 9 deadline.
Economic Risks and Uncertainties
Goolsbee highlighted the need for clarity regarding inflation remaining stable or temporary. While expressing optimism about recent inflation figures, he emphasized the Fed's cautious approach due to risks surrounding tariff negotiations and economic uncertainties.
Future Prospects for Rate Cuts
Daly expressed cautious optimism regarding potential rate cuts. He suggested that by the year's end the Fed might initiate the process with a 50 basis point cut, significantly affecting the cryptocurrency market. Meanwhile, Hammack has not addressed the ongoing situation.
The discussions among Fed officials underline the importance of a cautious approach amidst uncertainties, while expectations for future rate cuts could impact the economic landscape and the cryptocurrency market.
