Bowman from Fed dey support three rate cuts wey go start for September
Federal Reserve Governor Michelle Bowman don show say she wan support Fed rate cuts wey go start for di September policy meeting. She talk say because dem change job growth numbers down and labour market dey slow, so risks for rising inflation no reach the level wey strong labour market weakness dey pose. She believe say she go support three Fed rate cuts for di remaining meetings for dis year. Wit economic growth dey slow and work market dey cool down, Bowman feel say shifting bit by bit from small restrictive stance to neutral policy level na beta move. Traders go dey observe to see if di Fed rate cuts fit show for di coming Fed talks and big macro data.
Bullish
Bowman talk say dem go cut rate three times mean say money policy go soon soft, wey mean say borrowing go cheap and money for market go plenty. Normally, when Fed dey cut rate, e dey make risk gbege assets like cryptocurrencies go up, as e dey make investors like big return investments. For short time, if people dey expect say Fed go cut rate, e fit make crypto trading volume and price go up as market people go dey prepare for more money. For long term, if rate dey low steady, e fit make money flow enter digital assets well well, and e go boost the price go higher.