In the early morning of August 19, the Federal Reserve unexpectedly released an easing signal!
Fed Official Daley Voices: The Current Interest Rate Range of 5.25% to 5.5% May Need to Be Reviewed
Cryptocurrency market moderate recovery, generally up!
Daley, a central member of the Fed, made clear that given the current economic situation, it is time to reassess and possibly adjust the current range of interest rates of 5.25% to 5.5%. She noted that although the labour market was experiencing a slowdown, "its performance did not appear weak".
Daley further stressed that the Fed was unwilling to "unduly tighten monetary policy at a time of economic slowdown" to avoid unnecessary pressure on the economy. She added that failure to adjust policy flexibly to the dynamics of inflation and the reality of slowing economic growth "could lead to the consequences that we are trying to avoid-that is, price stability is achieved. But the labour market is in a state of instability and volatility".