Fed’s HamMACK SAYS ‘NO’ TO RATE CUT; Bitcoin Slips to Session Low Below $ 113k

The Current Data Does Not Make the Case for a September Ease, Said Cleveland Fed President Beth Hammack, Speaking With Yahoo Nws in Wyoming.

“We have inflation that’s too High and Has been Trender Upwards Over The Past Year,” She Said. “If the meting was tomorrow, I would not see a Case for Reducing Interest Rates.”

She Further Argued that Inflation Numbers Are Only Beginning To Show The Impact of Tariffs and that Full Effect Woundn’ be Seen Until Next Year.

Hammack’s Comments Are Notable, Showing Fed Chair Jerome Powell Continues to have Plenty of Support in His Hawkish Stance Despite Two Dissident Dovish Vots at the Last Central Ban. Continuing Campaign for Lower Rates.

Her Remarks Also Come After a Series of Potential Powell Replacements appeared on the airwaves in recent days to argue for Sharply Lower Interest Rates. The Latest This Morning Was Former St. Louis fed boss jim Bullard, who argued for policy rates 100 basis points bealow the Current Level.

Just Week Ago, Bitcoin Touched A Record High Above $ 124,000 Alongside A Nearly 100% Expert that the Fed Wuld Trim Rates Next MONTH. Seven Days Later, Those Odds Have Slipped Back to 71%, Account to Cme Fedwatch and Bitcoin BTC$ 112.619.22 have plunged nearly 10% to the current $ 112.800.

Markets Will Get To Hear From Powell HimSelf at His Keynote Address on Friday Morning and at this Point is Nearly Certain He’ll not Turn Dove. Institute, He’s Likely to Emphasize that Inflation Continues to Remain Too Hot and Thus the Need to Take a Wait and See Approach Towards Adjusting Monetary Policy.