BitMEX co-founder: U.S. Fed's rate cut decision likely politically motivated

Speaking to Cointelegraph at the Token2049 conference in Singapore, BitMEX Exchange co-founder Arthur Hayes stated that the U.S. Federal Reserve's (Fed) recent 50 basis point rate cut may be politically motivated to support Democratic candidates by boosting financial markets and consumer sentiment before the November elections. He views this rate cut as potentially accelerating inflation and impacting both traditional and crypto markets. Hayes expects a delayed reaction in the crypto market following traditional financial market closures and predicts that a weaker Japanese yen, expected from the Bank of Japan’s rate decision on Sept. 20, could strengthen Bitcoin.