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After the inflation data released at 15:30 today, the first statements came from the Fed members. Mary Daly was the speaker. The Fed member, who made evaluations about inflation, seemed to be far from excessive optimism. While many investors are worried in the midst of the increase in inflation, Daly predicts that the decline will continue.
Breaking News from the Fed
Mary Daly, who continues her speech at the time of writing, evaluated the latest inflation data, as expected. The Fed interest rate decisions, which are extremely critical for cryptocurrency investors, are shaped according to these data. Therefore, the best evaluations of the data can be made by the Fed members. Daly is currently one of the members who do not have voting rights in interest rate decisions and has a neutral stance instead of Hawkish/Dovish.
Daly said the following;
“We will evaluate the interest rate cut next year. It will depend on the economy and the inflation situation at that time. The part we will follow is the inflation of basic services excluding housing, as it has not made much progress so far. We expect a decrease in inflation in commodity prices, which is important, and in housing prices as well. The inflation data is moving in the right direction. I see a slowdown in the economy, but it is still not at the desired level. More data will come until the September meeting. The inflation data does not yet say that victory is ours. The data largely came as we expected.”
In short, the Fed will loosen its tight monetary policy at the earliest next year. The decision at the September meeting will also be determined according to the data that will be received until September 20. The Jackson Hole meeting to be held at the end of the month will also be of critical importance, just like the interest rate decision. Currently, upcoming Fed announcements are of critical importance for pricing the next 2 months for the cryptocurrency markets, and for now, the current outlook is bearish for cryptocurrencies due to the tightening process.
