Slower bull market ahead? Fed rate cut probability falls to 40%
Main Idea
Federal Reserve Chair Jerome Powell's comments reduced expectations for a September rate cut, with the probability dropping to 40%, signaling a potential slowdown in the bull market.
Key Points
1. Federal Reserve Chair Jerome Powell stated no decisions have been made about a September rate cut, emphasizing dependence on upcoming economic data.
2. The probability of a September rate cut fell to 40% from 63% following Powell's remarks.
3. US inflation is currently at 2.7%, above the Fed's 2% target, and has risen for four consecutive months.
4. Some Fed officials, like Christopher Waller and Michelle Bowman, supported a quarter-point rate cut.
5. Crypto markets dipped slightly after the Fed's announcement but remained within a stable range.
Description
Federal Reserve Chair Jerome Powell’s comments dampened hopes for a September rate cut, which could lead to a slower crypto bull run, one analyst speculates.
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