{"id":346129,"date":"2024-07-17T16:49:03","date_gmt":"2024-07-17T11:19:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/fed-williams-says-first-rate-cut-more-likely-in-coming-month-crypto-news\/"},"modified":"2024-07-17T16:55:18","modified_gmt":"2024-07-17T11:25:18","slug":"fed-williams-says-first-rate-cut-more-likely-in-coming-month-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/fed-williams-says-first-rate-cut-more-likely-in-coming-month-crypto-news\/","title":{"rendered":"Fed Williams Says First Rate Cut More Likely In Coming Month – Crypto News"},"content":{"rendered":"

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John Williams, the President of the New York Federal Reserve suggests Fed rate cuts are closer but the central bank is not yet ready. The wider financial awaits the Feds decision to cut interest rates following recent positive inflation data. The general sentiment among institutional firms points to Fed rate cuts later this year.<\/span><\/p>\n

Fed Williams Points to Disinflationary Trend<\/strong>\u00a0<\/span><\/h2>\n

The New York Fed Chief noted that interest rate cuts could happen in the coming months if the cooling inflation sustains. However, he downplayed the chances of the occurrence at the next Federal Reserve meeting in two weeks. In a recent interview with the <\/span>Wall Street Journal<\/span><\/a>, Fed William highlighted positive labor market conditions that can lead to the central bank\u2019s 2% goal.<\/span>\u00a0<\/span><\/p>\n

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\u201c\u2026 <\/span>getting us closer to the inflationary trend we are looking for\u2026 these are positive signs. I would like to see more data to gain further confidence inflation is moving sustainably to our 2% goal.\u201d<\/span><\/i>\u00a0<\/span><\/i><\/p>\n<\/blockquote>\n

Recent <\/span>CPI data<\/span><\/a> from the Labor Department shows cooling yearly and monthly inflation most consumer goods record price falls. The 3% yearly inflation came in better-than-expected pointing traditional and crypto market commentators to potential interest rate cuts. Recently, <\/span>Jerome Powell<\/span><\/a>, the Fed Reserve Chair stated the recent leanings of the central bank toward rate cuts before the 2% inflation mark.<\/span><\/p>\n

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This is also due to cooling inflation figures highlighted by Williams giving the Feds a more proactive stance. The Federal Reserve will not wait until inflation hits 2% as Powell cited \u201clong and variable lags\u201d coupled with increased confidence.\u00a0<\/span><\/p>\n

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Impact on Crypto Market\u00a0<\/strong><\/h2>\n

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Fed rate cuts are known to have a swinging impact on the crypto markets. As digital assets record a price recovery due to industry factors, policy watchers say that interest rate cuts could propel a new drive of institutional investment to the market. This year, Bitcoin ETFs in the United States have seen surging numbers from traditional investors pushing BTC price to a new all-time high above $73,000. The anticipated Ethereum ETFs could see massive inflows if the Feds lower rates.<\/span><\/p>\n

Also Read: <\/b>New ATHs in Low Market: Here Are The Crypto Defying the Crypto Market Crash<\/span><\/a><\/p>\n

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David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding. <\/p>\n<\/p><\/div>\n

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