Crypto Enthusiasts Embrace New Market Surge but Fed Casts Doubt

Key Points

1. Cryptocurrency market surges have excited enthusiasts, but the Federal Reserve's policies cast doubt on future growth.

2. Expectations of a Federal Reserve interest rate cut in September have decreased due to President Trump's re-imposition of rates in April.

3. Austan Goolsbee, a Fed member, has retracted his earlier stance on rate cuts due to rising inflation and lower-than-expected unemployment.

4. New tariffs, including a 35% tax on Canada and a 50% tax on Brazil, will be imposed on August 1, affecting global markets.

5. Market volatility remains high, with a 95.3% likelihood of rates remaining unchanged and a 61% expectation of a September rate cut.