RATE Group | Fed Coronavirus Rate Cut May Beat Bitcoin Inflation After 2020 Halving
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Fed Coronavirus Rate Cut May Beat Bitcoin Inflation After 2020 Halving

28 Feb Fed Coronavirus Rate Cut May Beat Bitcoin Inflation After 2020 Halving

Posted at 12:02h in Bitcoin News by

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The United States Federal Reserve will cut its interest rate target to compete with Bitcoin (BTC) post-halving, traders believe.

As Reuters reported on Feb. 28, Wall Street traders already consider the likelihood of the Fed cutting rates to boost the economy over coronavirus to be more than 75%.

Fed “monitoring” coronavirus

By September, the cuts could total 0.75%, bringing the short-term interest rate below 1% for the first time in three years.

The Fed did not appear rattled by coronavirus, which is now spreading more quickly outside its epicenter of China than within it. 

“I think it would be premature until we have more data and have an idea what the forecast is to think about monetary policy action,” Charles Evans, president of the Chicago Fed, said on Thursday. 

“But we’re monitoring it very closely and if we see something that does require adjustment I’m confident that we will give that all the consideration that it needs.”

Previously, U.S. president Donald Trump…

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