RATE Group | FED Under Pressure To Cut Rates As U.S Stares At A Recession, Fuel For BTC?
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FED Under Pressure To Cut Rates As U.S Stares At A Recession, Fuel For BTC?

28 Feb FED Under Pressure To Cut Rates As U.S Stares At A Recession, Fuel For BTC?

Posted at 02:53h in Bitcoin News by

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The Coronavirus continues to be a hot topic of discussion around the world. Particularly in China and the US, there has been an emphasis on its effect on the economies. The two largest economies have been shaken and the effects are being felt in investor’s wallets. The U.S stock is currently having one of its worst runs. The drop and the continued fear has prompted many to look unto the FED to cut interest rates. Such a move in the near future could see Bitcoin come out soaring.

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U.S Is Headed For A Recession

The Coronavirus promises to leave the economy on its knees. Led by market drops, the economy is struggling. And as the markets drop, the chances of an interest rate cut go up. MarketWatch notes that the probability of at least two rate cuts before December is at 78%.

But, it remains too early for the FED to make this call. As analyst The Wolf Of All Streets notes, this would be a dangerous move as the full impact of the Coronavirus is still…

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