One of the reasons for the nervousness reflected in the behavior of bitcoin is the expectation for the annual Jackson Hole symposium of the United States Federal Reserve (FED), which is scheduled for this week, between August 25 and 27.
“This year’s meeting comes at a critical time for the US markets and beyond. Inflation under the Fed’s jurisdiction appears to have started to cool off, while elsewhere the opposite story remains true,” Cointelegraph explained.
He added that while the latest US inflation data is still weeks away, “that might not stop Fed Chairman Jerome Powell from providing strong clues as to how the Fed will react, as well as positioning expectations regarding to future economic policy.
“They’re so focused on doing this in part just because they messed it up last year with the whole transient thing, and they realize the only thing can do now is to tighten policy, and that will reduce the inflationKevin Cummins, chief US economist at NatWest Markets in Stamford, told Bloomberg.
According to the specialized newspaper, with that it remains to be seen if the market will turn to favor another funds rate increase of 75 basis points in September or will gravitate toward a less than 50-point increase.
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Source: Ambito
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