In addition, the national ISM manufacturing survey, released during the long July 4 weekend, fell to its weakest level since May 2020. The shortened U.S. holiday week means a somewhat compressed schedule of economic data that could affect the inflation and interest rate outlook, and thus the prospects for bitcoin (BTC) and other cryptocurrencies. FOMC Minutes. Coming on Wednesday at 2 p.m. (ET) will be the minutes from the U.S. Federal Reserve’s mid-June meeting of its rate-setting Federal Open Market Committee (FOMC). The Fed at that meeting paused its more than year-long series of rate hikes that had taken its benchmark fed funds rate to 5%-5.25% from 0% in early 2022. In public comments since that meeting, Fed officials â” including Chairman Jay Powell â” have made clear that the
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