BitMEX co-founder Arthur Hayes said in an interview during the Token2049 conference in Singapore that the Federal Reserve is about to announce its first interest rate cut since 2020, but risky assets, including cryptocurrencies, could plummet within days of the rate cut. Hayes believes that the rate cut is a bad decision because inflation is still a problem in the United States, and lowering borrowing costs will exacerbate inflation. In addition, the narrowing of the US-Japan interest rate spread could lead to a significant appreciation of the yen, triggering the position squaring of the yen carry trade.
Hayes expects US interest rates to eventually fall from the current 5.25% -5.5% to near zero. He agrees with Scottish market strategist Russel Napier that the era of central banks is over and politicians will take over and direct banks to create liquidity in specific areas of the economy. In this case, Hayes said, cryptocurrencies would be the only asset that is globally portable and allows investors to get out of the system.
Arthur Hayes: Cryptocurrencies could plummet within days of the Federal Reserve's first interest rate cut, and the era of central banking is over
2024-09-18 08:05:37
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Arthur Hayes：美联储首次降息后几天内加密货币或暴跌，央行时代已经结束Next article：
Bitstamp 计划今年扩大其在澳大利亚的机构业务
