While the FED is expected to start cutting interest rates, which it has been pausing since January, in order to trigger the long-awaited rally in Bitcoin (BTC) and altcoins, which have been overshadowed by the Israel-Iran tension, the good news of an interest rate cut came from FED Vice Chair Michelle Bowman. Speaking at a meeting in Prague, Czech Republic, Michelle Bowman Waller said the time to cut interest rates was approaching. This marks a major change for Bowman, who has emerged as one of the most hawkish members and has been skeptical of interest rate cuts in recent months. But Bowman now made an unexpected change by saying, “It's time to think about adjusting the policy rate.” Michelle Bowman pointed out that inflation has slowed in recent months and said she would support a rate cut in July if the slowing trend in inflation continues. “Recent economic data suggest that tariffs and other policies have no clear and significant impact on inflation. At this point, the impact of the trade war on inflation may be delayed or less significant than expected. “Therefore, if the downtrend continues, I would support a rate cut next month. In the meantime, I will continue to monitor economic conditions carefully as the Administration's policies, the economy, and financial markets continue to evolve.” Bowman's comments echo those of his colleague Christopher Waller, who told CNBC on Friday that he thought the Fed could cut interest rates in July. Related News: Interest Rate Good News from a FED Member! Will We See a Summer Rally in Bitcoin (BTC) and Altcoins? US President Donald Trump has also been pressuring the Fed to lower interest rates as a way to save on financing the country’s rising national debt. However, the Fed left the interest rate unchanged at 4.25%-4.5% at its meeting last week. While Trump thinks the Fed should cut interest rates by at least 2 percent, Bowman did not say how much the interest rate should be lowered. The Fed's next meeting is scheduled for July 29-30. According to the CME FedWatch indicator, investors are pricing in a 22.7 percent chance of a rate cut in July and expecting rates to remain steady. However, the probability of the Fed cutting rates in September is priced in at about 78.7 percent. *This is not investment advice. Continue Reading: One of the Most Hawkish FED Members, Bowman, Made a Statement: He Gave the Green Light to Cut Interest Rates! He Also Gave a Date!
