Overview of Bitcoin, Web3, Ethereum, and Cryptocurrency:
The Federal Reserve faces pressure from Democratic Senators like Elizabeth Warren to implement aggressive monetary policies to avoid potential recession risks. The odds of a 50 bps interest rate cut are at 61%, leading to speculations on the impact on the crypto market.
Democratic Senators Urge Fed for Aggressive Monetary Policy Shift:
Senator Elizabeth Warren, along with Senators Sheldon Whitehouse and John Hickenlooper, called on the Federal Reserve to slash interest rates by 75 basis points to mitigate recession risks. The Fed’s upcoming decision on rate cuts is eagerly awaited with expectations of a dovish pivot at the FOMC meeting.
Market Speculations on Fed Rate Cuts and Crypto Predictions:
The CME FedWatch tool indicates a 61% probability of a 50 bps interest rate cut, sparking debates on how such a decision could impact risk assets like cryptocurrencies. Cryptocurrency prediction venues like Polymarket show varying odds on the outcome, with users wagering millions on the upcoming FOMC decision.
