The post ‘Many’ Fed Officials Oppose Further Rate Cuts This Year, Bitcoin Falls appeared on BitcoinEthereumNews.com. The FOMC minutes have further cooled optimism about another rate cut at the December meeting. The minutes indicated that most Fed officials oppose a third cut this year, as they turn their attention to rising inflation. Bitcoin and the broader crypto market faced another intense sell-off today as hopes of a rate cut continue to fade. FOMC Minutes Show May Officials Are Against A Third Rate Cut This Year According to the October Fed meeting minutes, many participants suggested that it would likely be appropriate to keep the target range unchanged for the rest of the year based on their economic outlooks. This came as the minutes noted that participants expressed “strongly differing views” about what policy decision would most likely be appropriate at the December FOMC meeting. The FOMC minutes stated that most participants judged that further downward adjustments to the target range for the federal funds rate would likely be appropriate as the committee moved to a more neutral policy stance over time. However, several of them didn’t necessarily view another 25 basis points cut as likely to be appropriate at the December FOMC meeting. Meanwhile, several participants assessed that a further reduction in the target range for the federal funds rate could well be appropriate at the December meeting if the economy evolved as they expected between now and the meeting. However, as CoinGape reported, the committee is unlikely to have enough data for the December meeting, as the BLS canceled the October jobs report, which traders believe makes it less likely the FOMC will lower rates. Ahead of the FOMC minutes release, the odds of a December Fed rate cut had already dropped to around 33.8%. Now, the Fed minutes further indicate that the Fed is unlikely to lower rates, seeing as ‘many’ already believe it is appropriate to… The post ‘Many’ Fed Officials Oppose Further Rate Cuts This Year, Bitcoin Falls appeared on BitcoinEthereumNews.com. The FOMC minutes have further cooled optimism about another rate cut at the December meeting. The minutes indicated that most Fed officials oppose a third cut this year, as they turn their attention to rising inflation. Bitcoin and the broader crypto market faced another intense sell-off today as hopes of a rate cut continue to fade. FOMC Minutes Show May Officials Are Against A Third Rate Cut This Year According to the October Fed meeting minutes, many participants suggested that it would likely be appropriate to keep the target range unchanged for the rest of the year based on their economic outlooks. This came as the minutes noted that participants expressed “strongly differing views” about what policy decision would most likely be appropriate at the December FOMC meeting. The FOMC minutes stated that most participants judged that further downward adjustments to the target range for the federal funds rate would likely be appropriate as the committee moved to a more neutral policy stance over time. However, several of them didn’t necessarily view another 25 basis points cut as likely to be appropriate at the December FOMC meeting. Meanwhile, several participants assessed that a further reduction in the target range for the federal funds rate could well be appropriate at the December meeting if the economy evolved as they expected between now and the meeting. However, as CoinGape reported, the committee is unlikely to have enough data for the December meeting, as the BLS canceled the October jobs report, which traders believe makes it less likely the FOMC will lower rates. Ahead of the FOMC minutes release, the odds of a December Fed rate cut had already dropped to around 33.8%. Now, the Fed minutes further indicate that the Fed is unlikely to lower rates, seeing as ‘many’ already believe it is appropriate to…