Kevin O’Leary Doubts Fed Rate Cut Will Impact Bitcoin
- Kevin O’Leary does not expect the US Federal Reserve to cut rates in December, citing high inflation as a deterrent.
- The CME FedWatch Tool shows an 89% market expectation for a December rate cut, a significant increase from previous weeks.
- Bitcoin prices have rebounded from $83,000 to around $93,700 amid speculation of a potential rate cut.
- O’Leary believes Bitcoin will remain within a narrow range, unaffected by potential Fed decisions.
- US consumer prices rose at a rate of 3% annually in September, influencing O’Leary’s skepticism about rate cuts.
Kevin O’Leary challenges market expectations regarding the Federal Reserve’s monetary policy changes and their impact on Bitcoin. Despite widespread anticipation of a rate cut, he maintains that inflation concerns will likely prevent such action and keep Bitcoin stable within its current price range. The market’s confidence in easing measures contrasts with his cautious outlook on economic indicators like inflation rates and liquidity moves.
