💥US Interest Rate Cut Is Imminent💥

From Bloomberg:

Powell Says ‘Time Has Come’ for Fed to Cut Interest Rates

Fed Chair Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin to reduce borrowing costs next month and making clear his intention to prevent a further cooling in the labor market.

“The time has come for policy to tighten,” Powell said Friday in a speech at the Kansas City Fed’s annual conference in Jackson Hole, Wyoming. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the balance of risks.”

That’s the reason for the late-hour surge, which not only failed to sustain but has now triggered a drop to pre-statement levels. $BTC $ETH $SOL