Bitcoin (BTC) and altcoins started the critical week with a recovery, in which the last FED interest rate decision of the year will be announced.
As BTC rises above $91,000 again, US economists are certain that the FED will announce an interest rate cut this week.
According to the Financial Times, 85 percent of 40 economists who participated in a survey conducted jointly by the Chicago Booth Clark Center and the FT said they expect interest rates to be cut at the Fed meeting.
However, economists also noted that there would be disagreement among Fed members regarding the interest rate cut.
Only one participant predicted that the rate cut decision would be unanimous. Of the other participants, 60 percent predicted that two people would vote against the rate cut, and more than 30 percent predicted that three or more people would vote against it.
According to the data, there has not been an instance of two dissenting votes at an FOMC meeting since September 2019. There has not been an instance of more than three dissenting votes since 1992.
Economists said the person most likely to dissent was Kansas City Fed President Jeff Schmid, who also dissented last October, while Boston Fed President Susan Collins and Chicago Fed President Austan Goolsbee were also likely to dissent.
A majority of economists said FOMC members are prioritizing whether to prioritize a weakening labor market over inflation, which has been running above the Fed’s 2% target since spring 2021, when discussing interest rate decisions this year.
*This is not investment advice.