Ah, Bitcoin and its cryptic friends are once again pacing nervously, like a cat on a hot tin roof. This time, it’s because Stephen Moore – yes, *that* economist who Donald Trump once nominated to the Federal Reserve in 2019 – has decided to throw shade at the Fed’s upcoming interest rate cut. 😏
- Stephen Moore, the self-proclaimed sage of economics, thinks the whole “Fed rate cut” hullabaloo is overblown. 🎭
- He insists that what really needs trimming is the Interest on Reserves (IoR), not the Federal Funds Rate. 🪓
- Meanwhile, crypto enthusiasts are clinging to hope, waiting for the October ETF approvals like kids anticipating Christmas morning. 🎁
At press time, Bitcoin (BTC) was trading at $112,645 – up a modest 3.7% from its lowest point this month. Ethereum (ETH) and Solana were just chilling, doing absolutely nothing noteworthy, while the total market cap of all tokens hovered around $3.9 trillion. Quite the rollercoaster, isn’t it? 🎢
Cue Dramatic Music: The Fed Cut That May Not Matter 🎵
Remember when Jerome Powell stood at the Jackson Hole Symposium, promising us that interest rates might take a little dive in September? Markets swooned like teenagers at a boy band concert. But hold your horses, says Stephen Moore. He argues that cutting the Federal Funds Rate won’t do squat because banks don’t even use it anymore. Talk about anticlimactic! 😴
The Fed rate cut everyone’s talking about might miss the real problem.
Jerome Powell hinted at cutting rates and markets celebrated. But here’s what Wall Street isn’t telling you:
The Federal Funds Rate cut won’t do much because barely any banks use it anymore.
The REAL rate to…– Stephen Moore (@StephenMoore) August 26, 2025
Instead, Moore suggests that the Fed should focus on slicing the Interest on Reserves (IoR), which currently sits pretty at 4.4%. Banks have been raking in billions from this little perk, so why wouldn’t they want to keep it? Greed, thy name is banking. 💸
And let’s not forget the looming specter of a “hawkish” rate cut – where the Fed lowers rates but simultaneously gives us the cold shoulder with restrictive monetary policy. It’s like getting a hug while being told you’re grounded. Awkward. 🦅
ETF Approvals: The Light at the End of the Tunnel? 🌟
Now, if you’re a crypto aficionado looking for something to cling to, there’s always the hope of ETF approvals by the Securities and Exchange Commission. After months of delays, decisions on tokens like Solana (SOL) and Ripple (XRP) are expected in October. Will they say yes or no? Place your bets, folks! 🎲
Current odds suggest that popular altcoins like Dogecoin, Solana, Hedera Hashgraph, and XRP might get the green light. And hey, if history is any indicator, the demand for these ETFs seems strong – just look at the inflows into Ethereum ETFs and other futures-based funds. Cha-ching! 💰
In conclusion, dear reader, whether you’re an investor, a skeptic, or just someone who enjoys watching financial chaos unfold, one thing is certain: the world of crypto never fails to entertain. Stay tuned for more drama, intrigue, and possibly some tears. 🎭💸
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2025-08-28 20:50