Jerome Powell’s statements have diminished expectations for a September rate cut. The Federal Reserve continues to hold interest rates steady at 4.25% to 4.5% amidst economic uncertainty.
Market analysts believe this reduction in rate cut expectations could result in a slower-paced crypto bull run. However, the market anticipates one to two cuts by the end of the year.
Despite maintaining current rates, Powell’s cautious approach reflects ongoing economic concerns. With inflation rising to 2.7%, any potential rate cuts will depend on data released in the upcoming months.
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