Crypto
Crypto Market Awaits US FOMC Minutes as Expert Hints at Fed Rate Hike in September
The crypto market is closely watching the upcoming US FOMC minutes, scheduled for release on Wednesday, July 8, for clues on the Federal Reserve's monetary
Key takeaways
- The Federal Reserve kept policy rates unchanged at its latest gathering, holding them steady for the fourth straight meeting this year.
- Fed Chair Kevin Warsh indicated at the ECB Forum in Sintra that the Fed will prioritize price stability despite political calls for lower borrowing costs.
- US inflation is likely to peak above 3.7% due to soaring AI demand and an energy-fueled economy.
- The odds of a 25 bps Fed rate hike in September are at 45.4%.
The crypto market is closely watching the upcoming US FOMC minutes, scheduled for release on Wednesday, July 8, for clues on the Federal Reserve's monetary policy. Despite cooler US jobs data, Federal Reserve Chair Kevin Warsh has hinted at a hawkish path, and Allianz analyst Ludovic Subran predicted a potential rate hike in September due to inflation likely peaking above 3.7%. According to the CME FedWatch Tool, the odds of a 25 bps rate hike in September sit at 45.4%, causing crypto traders to remain cautious as higher interest rates typically reduce appetite for risk assets.
In their words
“despite the easing US Job data, inflation is likely to peak above 3.7%”
By the numbers
- 3.7%
- Predicted peak inflation level cited by Ludovic Subran
- 45.4%
- Odds of a potential 25 bps Fed rate hike
- 25 bps
- Size of the potential Fed rate hike in September
How it unfolded
- Upcoming US FOMC minutes release
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Common questions
- marketing.blog.post.faq.what_happened
- The Federal Reserve kept policy rates unchanged at its latest gathering, holding them steady for the fourth straight meeting this year.
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