Uncategorized

Fed Governor Chris Waller Speech Causes Bitcoin Price To Increase To $38,000

Key Points:
  • Fed Governor Chris Waller speech was held in Washington with confidence in the US economy’s current state.
  • Waller suggests the Federal Reserve can prolong its pause in rate increases, a shift from his prior advocacy for rate hikes.
  • Chris Waller speech led to a 2% rally in Bitcoin, showcasing the broader influence of the Fed’s economic management efforts.
In Washington, DC, Federal Reserve Governor Christopher Waller expressed optimism about the current trajectory of the US economy, citing recent data that indicates a slowdown in economic activity and a moderation in inflation. 
Federal Reserve Governor Christopher Waller
 

Chris Waller Speech Shows Optimistic Amid Economic Data

Waller, who has been a vocal proponent of rate hikes in the past, now suggests that the Federal Reserve’s current policy is moving in the right direction.
 
Chris Waller speech came out with his view of being “increasingly confident that policy is currently well-positioned to slow the economy and get inflation back to 2%.” This shift in sentiment comes after he previously highlighted a divergence in economic data, where economic activity seemed to be picking up while inflation was slowing down.
 
As the third-most hawkish member of the Federal Open Market Committee (FOMC), Waller’s more dovish stance is noteworthy and suggests a consensus within the central bank to extend a pause in rate increases, possibly into early next year.

Market Reacts as Federal Reserve Signals Prolonged Policy Pause

Interestingly, the financial markets responded to Chris Waller speech, with Bitcoin experiencing a rally of more than 2% following his statements. At the time of reporting, Bitcoin was trading at $38,000, indicating that Waller’s remarks have reverberated beyond traditional financial markets, influencing the cryptocurrency space.
 
BTC price chart. Source: TradingView
 
The combination of Waller’s confidence in the current policy direction and the positive market response underscores the significance of the Federal Reserve’s ongoing efforts to manage economic growth and inflation in a challenging economic landscape.

 

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x

Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.

4 hours ago

AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!

Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…

4 hours ago

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

7 hours ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

9 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

12 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

13 hours ago

This website uses cookies.