FOMC: Bonds, Dollar, Inflation Decrees US Fed Bet On "Pause", Peter Brandt Predicts Bitcoin Rally
Wall Street giants remain bullish on crypto and stocks, as they correctly estimated historic drops in inflation data for May and June. JP Morgan, Goldman Sachs, Morgan Stanley, Bloomberg, Barclays, BMO, CIBC, Nomura, RBC, and Wells Fargo analysts actively believed in “no rate hike” in June. In fact, the CME FedWatch Tool also shows a 95% probability of the Fed keeping its policy rate unchanged. advertisement The bond market expected the Fed to “skip” the rate hike in June, with treasury yields dropping, annual CPI and core CPI inflation cooled in May, and the US dollar continues to drop with the US dollar index (DXY) at 103. The global markets are also recovering from an economic slowdown with recession risks fading. “The Fed will likely keep rates on hold at the June FOMC meeting for the first time since it began this hiking cycle in March 2022. Chairman Jerome Powell and Co. likely will characterize the decision as a “hawkish...