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ChiffrementHedging Fund Asymmetric's founder and CEO Joe McCann said that the Fed's significant interest rate cut will be beneficial to risk assets and the crypto market, rather than negative information as some people think. The Fed is expected to cut interest rates for the first time since March 2020 at 2 am Beijing time on September 19th, with the current interest rate at a high of 5.5% in 24 years.
McCann estimates the probability of a 25 or 50 basis point reduction to be 50% each. The CME Fed Watch tool shows that the probability of a 50 basis point reduction is 65% and the probability of a 25 basis point reduction is 35%.
McCann emphasizes that if the Fed only reduces rates by 25 basis points, the stock market could take a hit and the crypto asset market could consequently decline. However, a 50 basis point cut could be beneficial for crypto assets and other risky assets.