Crypto market sudden jump after FOMC meeting minutes release

Following the release of the FOMC meeting minutes, the entire cryptocurrency market experienced a notable increase in value, rising by over 2%.

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The recent Federal Reserve (Fed) meeting minutes from July suggest that the Fed is considering lowering interest rates by 25 basis points in September. Several members agreed that the U.S. has made progress in reducing inflation, which is getting closer to the Fed's 2% target. Additionally, rising unemployment and slowing inflation have contributed to the decision to consider this rate cut in the coming months.

Many participants in the meeting also expressed concerns that delaying the rate cut could harm the economy. According to CNBC, after the minutes were released, traders were almost certain that the Fed would reduce rates in September. The key question for most traders now is not whether the Fed will cut rates, but by how much.

https://www.cryptocrit.xyz/2024/08/Crypto-price-rally-after-FOMC-meeting.html

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