Minor Rebound In Crypto Markets
Cryptocurrency markets staged a minor rebound in the past 24 hours amidst renewed hopes of a Fed rate cut in December.
The Federal Reserve’s next interest rate decision is just 15 days away. The FOMC, when it meets on December 10 will have to potentially choose between another interest rate cut to support the labor market or maintain status quo to guard against inflationary pressures.
Despite the recent FOMC minutes indicating a divided Fed, dovish comments from Fed officials and indications of weakness in the economy have lifted rate cut expectations over the past 1 week. According to the CME FedWatch tool, market expectation of a quarter percentage Fed rate cut in December is currently at 80.9 percent versus 84.4 percent a day ago…
