In a recent speech at an event in Washington, D.C., Federal Reserve Governor Chris Waller discussed the current state of the U.S. economy and indicated that the Federal Reserve's policy is appropriately positioned. Recent data pointing towards a slowdown in economic activity and a moderation in inflation have led Waller to believe that the central bank is on the right track.

Waller highlighted the October data and forecasts for the fourth quarter, which suggest a decline in economic activity. He also commented on the favorable movement in inflation data. According to Waller, if inflation continues to decrease, there is a strong argument for rate cuts within a few months.

During the question and answer session following his remarks, Waller's stance on rate cuts caught the attention of investors. In response to the possibility of declining inflation, Waller's comments resonated positively in the cryptocurrency market, particularly with bitcoin (BTC). Following his speech, bitcoin saw a rally of over 1%, reaching a price of $37,700 at the time of publication.

While Waller's remarks were received positively by some, his colleague Michelle Bowman expressed a different view at a separate event. Bowman believes that in order to control inflation, interest rates will have to be raised.

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As the U.S. Federal Reserve's policy stance continues to adapt to evolving economic conditions, market participants will closely monitor any potential rate cuts and their impact on various sectors, including the cryptocurrency market.

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