Bitcoin Stalls as Fed’s Bostic Warns of ‘Thick’ Economic Fog

The price of Bitcoin On Tuesday, due to $ 84,000, the White House refined its message about rates without stopping noticeable market volatility.

During a briefing, secretary of the White House, Karline Leavitt, said That “exemption is being considered” for farmers who are tensioned by the trade war of US President Donald Trump, while members of the Trump cabinet are currently working with 15 countries to “reduce these good trade agreements.”

The price of Bitcoin recently changed owner around $ 84,300, which showed a decrease of 0.6% compared to the last day, according to Crypto Data Provider Coentecko. Ethereum dropped 1.8% to $ 1,600, while SolanaThe sixth largest digital active per market value, 1.6% fell to $ 128.

The quiet mirrored trade on Wall Street on Tuesday. The S&P 500 fell 0.02%, the technology-heavy Nasdaq went 0.07%and the DOW dropped 0.2%, according to Yahoo Finance.

This month, Trump focused more than 180 countries in revealing “mutual” rates, but his efforts to reform international trade recently recently Focused on China. After Trump had dropped stiff taxes to 10%for most countries, markets have become somewhat relieved. Nevertheless, asking about how Trump’s rates can hit the American economy.

Economists fear that Trump’s rates will increase the costs for consumers while they weigh economic growth, despite the consumer price index arrive Coeler than economists expected last week, with an increase of 2.4% in the 12 months to March.

When it comes to stagflation, Trump’s rates can live up to the first half of the Portmanteau, according to analysts from Yardeni Research. In a Tuesday memorandum, they wrote that “consensus expectations can overestimate the inflational impact and underestimate the downward risks for growth”, with a contrast for each other.

Within the cryptosphere, investors have gained new insight into how the American strategic Bitcoin reserve can be strengthened with new purchases. On a podcast, Bo Hines, executive director of the Presidential Council or advisers on Digital Assets, said The money can come from rates.

The roll -out of the Bitcoin reserve of Trump raised excitement earlier this year, but after his recent exchange saws it is almost a month ago that Bitcoin was traded above $ 90,000.

Investors also want to understand how Trump’s rates can then influence the approach of the Federal Reserve of the interest rates excellent Two cuts last month. On Monday, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said It is still too early to tell.

“I think the fog has just become real, very fat,” he said. “The economy is in a big break, […] And we will just have to see how things evolve. ‘

Published by James Rubin