Powell Teases Fed Rate Cuts Before 2% Inflation Mark, Bitcoin Rally Ahead?

Quick Summary:

Federal Reserve Chair Jerome Powell has indicated that the Central Bank will not adopt a wait-and-see approach until the interest rate dips to 2% before cutting interest rates.Recent data from the U.S.

Labor Department shows declining inflation to 3% although still above the Fed’s 2% target.

A cut in interest rate will tilt macro factors in favor of the asset as investors move funds to risky assets.

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Article Details

Author / Journalist: David Pokima

Category: Crypto

Markets: India

Topics: Federal Reserve 24/7 Cryptocurrency News Fed rate cuts Jerome powell Bitcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 19:01:20 (1 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 343 words

Reading Time: 2 minutes read

Sentences: 38 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21634883

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