The Federal Reserve may not reduce interest rates soon, but when that happens, the easing may be aggressive, according to the Dutch investment bank.

On Wednesday, the Fed Benchmark rate was waiting between 4.25% and 4.5%, with President Jerome Powell raised the spectrum of stagflation during the press conference after the announcement.

Both crypto and traditional markets looked at Powell for signals of a potential rate of betting in June. Ing points to his comments that “uncertainty about the economic prospects has risen” and “the risks of higher unemployment and higher inflation have risen” as evidence that the waiting-and-watch state could last in a few more meetings.

The comments suggest “a little tendency to move until they are sure of the direction the data is on the way, which means that speed cuts could be delayed, but the risk of being sharper when they come,” Ing said in a note to clients.

Investment Bank said the wait-and-se-attitude could “continue until September.”

The Bank Fed’s restraint to act is likely to be due to the fact that trade war and delay disorders in ports and logistics companies could reinforce inflation.

Bitcoin has gathered from $ 96,000 to $ 99,5000 since Wednesday’s Fed FED decision, with President Donald Trump’s Drill of a trade agreement with a larger economy that helps restore the risk of the risk.