The Federal Reserve wraps up its two-day policy meeting on July 28-29, with markets pricing in an overwhelming probability that interest rates will remain unchanged at 3.50%-3.75%. Kevin Warsh, who succeeded Jerome Powell on May 22, is chairing his second FOMC meeting, with a press conference scheduled for 2:00 p.m. ET on July 29. Traders will scrutinize Warsh’s remarks for clues on the Fed’s rate trajectory beyond September, particularly regarding inflation trends and labor market conditions. For crypto markets, the current rate environment, significantly higher than the near-zero levels of 2020-2021, continues to make traditional fixed-income investments more attractive relative to speculative digital assets.
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