Two days after the U.S. Federal Reserve left interest rates unchanged at 4.25%–4.50%, Fed Governor Christopher Waller stated that the central bank may lower rates as early as its July meeting.
He cited a slowing economy and suggested that the inflationary impact of tariffs would be mild and short-lived. Waller added that, in his view, the Fed’s benchmark rate is currently around 1.25–1.50% above the estimated neutral rate.
"I think we have room to cut, and then we can observe what happens to inflation. We’ve paused for six months to wait and see, and so far the data looks good," Waller said.
His statement carries weight, particularly as Donald Trump has been pressuring the Fed to cut rates by a full percentage point. The Fed also signaled during its latest meeting that it may lower rates two more times before the end of the year.
A ray of hope amid market uncertainty
Meanwhile, the FED Watch Tool puts the chance of a July rate cut at just 14.5%, but Waller’s remarks may already serve as a psychological catalyst for the declining crypto market, which is struggling with geopolitical and macroeconomic uncertainty.
Target rate probabilities for 30 of July 2025 Fed meeting. Source: CME Fed Watch
On Friday, Bitcoin fell about 1% to around $103,400. Ethereum dropped by 3.5% to $2,420, and most major altcoins are in the red, falling 3–5% or more.
At the same time, spot Bitcoin ETFs increased inflows this week, reaching $2.28 billion and $10 billion over the past three months.Total cumulative inflows now stand at $46.65 billion.
Similarly, spot Ethereum ETFs attracted nearly $1.5 billion over the past three months, with total inflows nearing $3.9 billion.
As we wrote, Trump pressures Fed chair Powell to cut interest rates
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