With Rate Cuts and Upcoming Elections, What’s the Best Play in Crypto? - Ep. 709
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We've had the highest inflation in 30, 40 years under the most recent administration. If that continues, we saw what that can do, what, what what the fiscal stimulus can do for for the price of Bitcoin. And, you know, I I don't think that really gets a ton better.
Hi, everyone. Welcome to Unchained, your no hate resource for all things crypto. I'm your host, Laura Shin, author of the Cryptopians. I started covering crypto 9 years ago, and as a senior editor at Forbes, was the 1st mainstream media partner to cover cryptocurrency full time. This is the September 24th, 2024 episode of Unchained. Mantle's Amith is now the 4th largest LST with $1,300,000,000 in TVL. Amith offers holders cumulative incentives and airdrops in addition to native ETH POS yields. This includes exclusive rewards like Igen and Cook. Check it out at ameth.mantle.xyz/campaigns. Today
for having us. Yeah.
Thanks for having us, Lauren. We're
recording the Monday after the Fed's first rate cut since 2020. This was a widely anticipated moment with a lot more divergence than normal over what people expected the Fed to do. What did you think of the fact that the Fed decided to cut half a percent rather than a more conservative 25 basis points, which, like I said, was that was not expected by most economists. And, in addition to what you thought of that, what do you think it means for the economy and for crypto markets? Why don't we start with Quinn? Go ahead.
Yeah. Sure. So, yeah, it was a surprise. I think it was, pretty interesting meeting, just from the fact that there wasn't a consensus going in. I can't remember the last time that happened and and some last minute communications. But overall, I think, you know, the reason they did do that was because of the deterioration in the labor market, which everybody's been paying close attention to, that's had the number one focus. And then obviously inflation coming down from, from levels that was to start the year is what gave them the leeway to do so. I think where the confusion is across, you know,
what do you think? Quain
covered a lot there. I don't have very little to add to that actually. Yeah. If I was going to guess why they went 50, maybe some kind of regret minimization approach where you feel, you know, if the economy significantly if they went 25 in the in the economy or or or labor inflation weakened significantly over the next 6 weeks, then, you know, there would be potentially a regret factor there that if you just kind of do 50 now and then if if if the if the inflation and labor data hangs in okay, then you still kind of, you know, feel too bad about going 50. I mean, I agree with Quinn. One of th
And, we saw that the markets rallied after this news. Do you think that means people are generally not so worried about recession? Or what are you guys worried about a recession? I
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