Arthur Hayes Says Fed Rate Cut Will Trigger Market ”Collapse,” Calls Move A ”Colossal Mistake”: Token2049
BitMEX co-founder Arthur Hayes said that risk assets such as cryptocurrencies will crash shortly after the Federal Reserve’s anticipated rate cut later today, the first in more than four years “I think that the Fed is making a colossal mistake cutting rates at a time when the US government is printing and spending as much money as they ever have in peacetime,” Hayes said in a keynote speech at Token2049 in Singapore on Sept. 18. “While I think a lot of people are looking forward to a rate cut, meaning that they think the stock market and other things are going to pump up the jam, I think the markets are going to collapse a few days after the Fed’s rates.” Arthur Hayes Says Cutting Rates Adds To Inflation Pressure Cutting rates is a bad idea because inflation is still an issue in the US, with the government being the biggest contributor to the sticky price pressures, he said. Making borrowing cheaper, adds to inflation, he said. He slammed the Federal Reserve for even considering