Austan Goolsbee, President of Chicago Federal Reserve, has forecast more rate cuts. But he has based his forecast on one limit. His forecast comes at a time when the crypto market could possibly use a push for new highs. Gold and Silver as alternatives have so far held their grounds amid the rising uncertainty.
Chicago Fed President on Rate Cuts
Chicago Federal Reserve President Austan Goolsbee has forecasted more rate cuts in 2026. He has said that there could be several rate cuts later this year; however, he has urged policymakers to be careful, as it could lead the economy and inflation into trouble.
His statement came during a media interaction wherein he also highlighted the goal of 2% inflation. With this, Austan Goolsbee has become one of the few policymakers who are positive that the rate will be slashed in 2026.
The US Federal Reserve last met at the end of January 2026 and kept the rate unchanged. Around a 25 bps rate cut was expected by a small portion of the community. Over 97% of them had maintained that there could be no rate cut.
Surge Across the Crypto Market
The crypto market, even though it is down over 24 hours, has marked a comparative uptick. For instance, BTC dropped to $62,694.75 on February 24, 2026. The token has, since then, jumped to $66,222.15. The new value is still down by 2.90% over the last 24 hours.
Similarly, ETH was trading at $1,807.64 on February 24, 2026. It is now exchanging hands at $1,964.65, up by 0.75% on a weekly basis. Overall, the crypto market has shed 2.22% in terms of collective market cap, and the FGI has shifted slightly upwards to 16 points.
Performance of Alternatives
Two basic alternatives, Gold and Silver, have maintained their momentum. Gold has dipped by 0.15%, but continues to trade above the $5k mark. It was last seen at $5,177.90 per ounce. Notably, it translates to 3.53% gain over the last 5 days and 51.32% gain in the last 6 months.
Silver has moved in the opposite direction by climbing 1.59% to reach $89.68 per ounce. Its 6-month gain comes to 132.10%, and a week’s uptick stands at 5.95%. Meanwhile, the Dollar has lost 0.01% on the index against the basket of currencies. It is now at 97.776.
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