Slower bull market ahead? Fed rate cut probability falls to 40%

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.