76%
25 bps increase
- 25 bps increase 76%
- No change ▲1 22%
- 25 bps decrease <1%
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- 1 more1%
25 bps increase, last 16 days
Cleveland Fed President Wants Small, Quick Rate Moves. What It Means for Bitcoin
0Importance
closedStatus
1News media
- Published
Federal Reserve officials described interest rates as still needing to move higher, and one official said smaller, faster adjustments were preferable to waiting for a larger move later. Other officials said another increase by year-end remained a possibility, while future decisions would depend on incoming data as inflation stayed above target.
Key claims & sources
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A Fed official said interest rates still need to rise and that current policy is not restrictive enough.
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Most FOMC participants supported another rate increase by year-end, while future decisions would depend on incoming data as inflation remained above target.
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Beth Hammack said restrictive policy is appropriate to bring inflation back to 2% and said she prefers smaller rate changes made more quickly rather than waiting for a larger adjustment later.
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Rate futures pointed to a December hike, and the US dollar was near an 18-month high.
What it means
Borrowers, traders, and rate-sensitive businesses are the groups most likely to notice this in the near term. The immediate change is that Federal Reserve officials are still discussing higher rates and a possible December move, so markets and planning desks are dealing with a policy path that is still open but leaning tighter. (per tokenpost.com)
In practice, the discussion is about how the Fed might adjust rates rather than whether it would keep policy unchanged. Hammack’s preference for smaller moves made more quickly keeps the emphasis on the pace of changes, while the broader FOMC view leaves open that another increase by year-end remains under consideration.
Market reaction i
Bitcoin fell 0.2% in the 4 hours after the first headline, after rising 0.3% in the 2 hours before.
$83,650
price at the headline
+0.3%
2 h before
-0.2%
4 h after
-0.6%
12 h after
First headline
47 prices, one every 30 minutes · The move was larger before the first headline than after: an observation, not an explanation. The market also moves on things nobody publishes.
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
first
BeInCrypto
scoop
Oct 13 06:21
BeInCrypto
scoop
Breaks the event
What could happen next i
98%
0 (0 bps)
- 0 (0 bps) 98%
- 2 (50 bps) <1%
- 1 (25 bps) ▼1 <1%
- 3 (75 bps) <1%
0 (0 bps), last 16 days
78%
No change
▲ 4 pts in 24 h
- No change ▲4 78%
- 25 bps increase 18%
- 25 bps decrease 3%
- 50+ bps decrease ▼1 <1%
- 1 more1%
No change, last 16 days