The United States Federal Reserve will cut its interest rate target to compete with Bitcoin (BTC) post-halving, traders believe.

As Reuters reported on Feb. 28, Wall Street traders already consider the likelihood of the Fed cutting rates to boost the economy over coronavirus to be more than 75%.

Fed “monitoring” coronavirus
By September, the cuts could total 0.75%, bringing the short-term interest rate below 1% for the first time in three years.

The Fed did not appear rattled by coronavirus, which is now spreading more quickly outside its epicenter of China than within it.

“I think it would be premature until we have more data and have an idea what the forecast is to think about monetary policy action,” Charles Evans, president of the Chicago Fed, said on Thursday.