#BTC
93% Chance of a Fed Rate Hike Today. What Happens to Bitcoin Now?
Interest rate futures put a 92.7% chance on the Federal Reserve raising rates on Wednesday. That leaves traders worried across both the crypto and stock markets. Because Donald Trump appointed Kevin Warsh with one single promise: cut interest rates. But Warsh can’t deliver that with inflation running at 3.4%
So, how will the market react, and which way will Bitcoin move?
Why a Pause is the Closest thing Warsh can give Trump
The Fed’s target range sits at 3.50% to 3.75%. The CME FedWatch tool put the odds of no change at 7.3% on Wednesday morning, with zero odds of a cut.
Trump picked Warsh for the job and watched him sworn in at the White House in May. Even ahead of the swearing-in, the president was already treating his would-be chair as an ally.
Wharton professor Jeremy Siegel has argued that Trump pressure and midterms are the only forces still blocking a hike. White House economic adviser Christopher Phelan said a move this week would be a mistake. Midterm elections are seven weeks away.
Former Fed governor Stephen Miran made the data case against hiking in an interview this week.#Write2Earn $BTC
93% Chance of a Fed Rate Hike Today. What Happens to Bitcoin Now?
Interest rate futures put a 92.7% chance on the Federal Reserve raising rates on Wednesday. That leaves traders worried across both the crypto and stock markets. Because Donald Trump appointed Kevin Warsh with one single promise: cut interest rates. But Warsh can’t deliver that with inflation running at 3.4%
So, how will the market react, and which way will Bitcoin move?
Why a Pause is the Closest thing Warsh can give Trump
The Fed’s target range sits at 3.50% to 3.75%. The CME FedWatch tool put the odds of no change at 7.3% on Wednesday morning, with zero odds of a cut.
Trump picked Warsh for the job and watched him sworn in at the White House in May. Even ahead of the swearing-in, the president was already treating his would-be chair as an ally.
Wharton professor Jeremy Siegel has argued that Trump pressure and midterms are the only forces still blocking a hike. White House economic adviser Christopher Phelan said a move this week would be a mistake. Midterm elections are seven weeks away.
Former Fed governor Stephen Miran made the data case against hiking in an interview this week.#Write2Earn $BTC
