Breaking Crypto News – What Factors Are Contributing to the Crypto Market Sinking?

Breaking Crypto News – How Will US Inflation Data Impact the Crypto Market Sinking?

Breaking Crypto News – Much volatility has been seen in the crypto market as the US Federal Reserve is ready to release revised economic estimates this week. Investors and market observers anticipate fewer interest rate reductions in these estimates despite slower growth.

Jerome Powell, the chair of the Fed, has cautioned that actual results may differ. The Fed’s latest projections have been put to the test by unforeseen economic developments. Following aggressive rate hikes in 2022 and 2023, key inflation indices have stayed stable; nonetheless, economic concerns are now more complex, with contradicting evidence frequently available.

In recent months, there has been a lack of further progress toward the Committee’s 2% inflation objective,

The Fed

There are Concerns about Reaching the 2% Target

As a result, the Fed is waiting to reduce rates until inflation has considerably improved. If tight monetary policy isn’t implemented, policymakers wonder how inflation will reach the 2% target. In contrast to some of its international peers, such as the European Central Bank (ECB) and the Bank of Canada (BoC), the Fed has not recently lowered interest rates. Wall Street Journal reporter Nick Timiraos claims that following last Friday’s jobs report, JPMorgan and Citigroup renounced their projections for a July rate cut.

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