For both those involved in Bitcoin and traditional markets, all eyes have been on the Federal Reserve over the past few months.
Many analysts claim that whatever the American monetary authority decides to do with monetary policy will dictate the direction for global markets, and, potentially, the fate of the current fiat economic hegemony.
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This weekend, the world’s central bankers and economic pundits descended on the small American town of Jackson Hole, Wyoming to talk monetary policy and even crypto (maybe not Bitcoin).
While the Bank of England, the European Central Bank, and other monetary authorities seem poised to cut interest rates, there were mixed signals coming out of the Fed’s camp.
In a meeting that occurred prior to the symposium in (the pro-blockchain and pro-Bitcoin) Wyoming, the Fed’s economists were revealed to be divided, with some pressing for a rate cut, and others pushing for no change.
But according to a rate cut probability indicator as defined by the Federal Funds futures, the market is entirely expecting a rate cut in September. That’s not all, the futures are expecting rate cuts to occur well into 2020, potentially even until September 2020’s Federal Open Market Committee (FOMC) meeting. Read More at NewsBTC...