Minneapolis Fed Goes Hawkish, BTC Recovers To $69K!


“All of them are different, some are hawkish and some are dovish. Where's this one?

Minneapolis Federal Reserve (Fed) President Neel Kashkari's somewhat hawkish comments have caused the price of cryptocurrency king Bitcoin (BTC) to recover to $69,000 from $65,000.

However, if inflation continues to see a flat movement then it is necessary to consider once again whether one wants to carry out benefit rates or not, Kashkari explained further in a virtual event on LinkedIn.

However, Fed Chairman Jerome Powell's statement also contradicted Kashkari's as he told the audience at Stanford that he would continue to expect a cut in benefit rates this year.

So here you can see a clearer overview of rates that can be used more clearly today, followed by the publication of NFP data for March 2024.

Those expecting weaker jobs numbers may encourage the Fed to move more quickly into a tapering cycle, but it's important to note that job growth remains at a steady pace throughout 2023 and so far in 2024.

It is widely known that economic experts estimate that 200,000 jobs will be added by March 2024, which is a strong number despite a decrease from 275,000 in February 2024, while the unemployment rate is expected to remain stable at 3.9%.

As of this writing, the price of BTC had jumped 2.88% to $68,041 in the last 24 hours with market capital of more than $1 trillion but still registered a decline of 4.03% over the past week.