The aggressive comments of the Federal Committee of the Federal Open Market Committee have put, for the moment, the Kibosh in the modest attempt of the Crypto Market market in a demonstration on Wednesday.
“The majority of the participants judged the upward risk of inflation as the greatest of these two risks,” said the Fed minutes about the discussion of the committee on prices compared to employment. “Regarding the upward risks for inflation, the participants pointed out the uncertain effects of tariffs and the possibility that inflation expectations are not recorded.”
Cryptography prices gave up some of their daily profits only after the launch of the minutes, with Bitcoin
Slide from an advance of 0.7% to just green in the last 24 hours to $ 113,300.
Have one of the best sessions of the Major, ether (Eth) Slide from approximately 4.5% gain to only an advance of 2.3% at $ 4,270.
However, this Fed meeting in particular took place just before the launch of the Employment Report on August 1, which showed not only a slow work gain of July, but also contained a massive review of 258,000 jobs in May data published previously.
If these numbers were in front of the Fed at their July meeting, it is completely possible that the participants’ tone would have been very different and the result of the meeting could have been a tariff cut.
Jackson Hole still ahead
However, this week’s main event remains the opening speech of the president of the FED, Jerome Powell, in the economic symposium of Kansas City’s Fed in Jackson Hole.
The bosses fed during the last decade, more have used the Jackson Hole forum to indicate imminent policy changes. Market participants will be observing closely to see if the obvious Powell is stubborn any sign of change of that position and perhaps pointing out a rate cut at the next meeting of the Central Bank in September.
Current bets say that Powell will take a wait and see the approach, noting that between Friday and that September meeting it will be much more economic data, including new employment and inflation reports for the month of August.
