Bitcoin Bull Predicts Positive Outcome from US Fed Meeting
Thomas Lee, the Head of Research at Fundstrat, believes that the Federal Open Market Committee (FOMC) meeting could bring a positive surprise for traders and investors. While the market has already priced in a rate hike pause in the September 20 meeting, Lee suggests that the central bank may provide relief from its data-dependent approach. He anticipates an important pivot in the Fed’s view, which could lead to a positive reaction in the markets. However, the outcome remains uncertain. The US Fed Chair, Jerome Powell, will hold a live FOMC press conference at 2:30 p.m. eastern time.
Traders Await Powell’s Statement on Rate Hike Pause
Market participants are eager to hear Powell’s outlook on reaching the 2% inflation target while considering unemployment rates. Lee predicts that Powell may hint at a rate hike pause due to a sustained drop in inflation. However, during his Jackson Hole speech, Powell warned that interest rates could be raised further if necessary.
Source: CoinGape
Hot Take: Bitcoin Bulls Hopeful for Positive Market Response to US Fed Meeting
Crypto enthusiasts are keeping a close eye on the upcoming US Fed meeting and its potential impact on Bitcoin and other cryptocurrencies. Thomas Lee’s prediction of a positive outcome has sparked optimism among traders and investors. If the central bank shifts away from its data-dependent approach, it could bring relief to the market and potentially drive Bitcoin prices higher. However, uncertainties remain as market reactions can be unpredictable. As we await Jerome Powell’s statement, all eyes are on whether he will provide any hints about a rate hike pause and how the crypto market will respond.
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