The US Personal Consumption Expenditure (PCE) report is due on Friday, March 1. Ahead of the report, the crypto market was hit by a massive setback due to a delay in the anticipated rate cuts by the Federal Reserve. According to analysis by Jim Bianco, President and Macro Strategist at Bianco Research, Fed is unlikely to introduce rate cuts before September this year.
Fed Unlikely To Introduce Rate Cut Before September
Bianco highlighted that the probabilities of a Federal Reserve rate cut are on a downtrend leading up to the next four FOMC meetings. With March and May meetings having almost no possibility for cuts, attention turns to June and July. However, he noted that if February’s payroll and CPI data continue to show strength, markets may retract expectations for cuts in these months.
The Fed faces a delicate balancing act amid political scrutiny, especially with the September 18 meeting preceding the election and the November 7 meeting occurring the day after. This situation s
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