CEA chief Phelan: a Fed rate hike today would be a mistake
- —Phelan: CPI and PCE have fallen for three straight months, so there is no need to raise rates
- —The Fed will announce its rate decision today, with the market expecting a 25 bps hike
- —In July the FOMC held rates steady amid a 9-to-3 split
- —Fed Chairman Warsh said the era of low rates is over
Why it matters: A rate hike reduces bitcoin's appeal relative to bonds; Warsh's tone will determine the market's risk appetite.
Source: BeInCrypto KR