Announcing the last interest rate decision of the year and keeping interest rates constant Fedsignaled that there may be interest rate cuts in 2024.
In line with these expectations, expectations for the FED to cut interest rates are increasing, and the statements made by FED members are being followed closely.
At this point finally Richmond Fed President Thomas Barkin He made statements about FED’s policy, inflation and interest rate cuts.
Speaking to Yahoo Finance, Barkin stated that inflation continues to be the focus of the FED.
The highlights of Barkin’s speech, who refrained from commenting on the date or number of interest rate cuts, are as follows:
“Inflation remains the focus of the FED.
The FED continues to adhere to data regarding interest rate cuts, and we see that inflation data is moving in the direction we want.
Inflation is progressing in a positive direction and the decline in inflation is remarkable.
But I think inflation is more stubborn than the average Fed official.
If inflation continues to fall nicely as we expect, the FED will respond to this decline.
“I think we’re in a good position right now with the inflation rate of 3% and the unemployment rate of 3.7% remaining relatively stable.
Whether the FED will fulfill its interest rate cut predictions announced at last week’s policy meeting continues to depend on the performance of the economy.
“The FED’s forecasts are just a guess, not a guide.”
As you may remember, speaking to Reuters last week Raphael Bostic He said that the FED may start reducing interest rates in the third quarter of 2024 and stated that he expects two 25 basis point interest rate cuts during the year.
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.
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