US Fed, ECB, BOE Call For More Rate Hikes, Will Bitcoin Price Fall?
Before Jerome Powell’s speech, Federal Reserve Bank of New York President John Wiliams and Federal Reserve Board Governor Michelle Bowman shared their monetary policy outlook. Bowman has pushed back against a broad overhaul of banking rules, but agrees with the need for more interest rate hikes to curb the inflation rate to its target. Williams agrees with more rate hikes. advertisement Fed officials including Dallas Fed President Lorie Logan and Fed Governor Philip Jefferson said on Thursday that inflation is still too high and data doesn’t justify pausing a rate hike in June. Moreover, Cleveland Fed President Loretta Mester said Tuesday that the central bank is not yet at the point where it can “hold” rates. US jobless claims have decreased to 242,000 from 264,000 the previous week, indicating the labor market remains tight. It offered the Federal Reserve an opportunity to implement further interest rate hikes in its efforts to combat inf...