Additional Interest Rate Increase Signal from FED Member!

As you may remember, it announced the last interest rate decision of the year and left interest rates constant. Fedhad signaled that interest rate cuts might occur in 2024.

While expectations for the FED to cut interest rates in the first quarter of 2024 are increasing, the statements made by FED members are being closely followed.

At this point finally Richmond Fed President Thomas Barkin He made statements about FED’s policy, inflation and interest rate cuts.

Stating that inflation continues to be the focus of the FED, Barkin said that the FED will act according to inflation data regarding interest rate cuts or increases.

Barkin, who declined to comment on the date or number of interest rate cuts, said in his speech to the Raleigh Chamber of Commerce in North Carolina that additional interest rate increases are still on the table.

“The Fed has made real progress in containing inflation without major damage to the labor market, and a soft landing scenario for the economy is becoming increasingly plausible.

However, additional interest rate increases are still on the table and I think there is potential for an interest rate increase.

At this point, the timing and pace of any rate cuts are determined by whether inflation continues to decline and the economy continues to run smoothly.

Therefore, the economic data coming in 2024 will be important in the FED’s decision to cut interest rates.”

Bitcoin It hit its peak of $69,000 in November 2021, when the FED started increasing interest rates. Since the bear market that followed was directly related to the FED’s interest rate increases, it is unlikely that a policy change would occur here. BTCIt is thought that it may return to its old days again.

*This is not investment advice.