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The founder of Binance CZ will be released from prison on September 29.
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Jerome Powell said that the Federal Reserve System is not declaring victory over inflation.
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Gold reached a new historical peak.
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More from statements made by Fed Chairman Powell (September 18, 2024): 1. The Fed believes that the economy is "generally strong" 2. The Fed is "growing confident" that strength in the labor market can be preserved 3. Consumer spending "remained stable" 4. Inflation has decreased, but "remains above the target of 2%" 5. The labor market is now less tense than before the pandemic. 6. The Fed moves to a "neutral position" but "does not follow any predetermined course"
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Against this background, global liquidity jumped, while the dollar index fell to test important support.
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BRIEF DESCRIPTION OF THE FEDERAL DECISION (September 18, 2024): 1. The Fed is reducing interest rates by 50 basis points for the first time since 2020 2. The Fed expects two more rate cuts of 25 basis points in 2024 3. The Fed gained "great confidence" that inflation is moving towards 2% 5. The Fed will "carefully evaluate the incoming data" and evaluate prospects based on it 6. The Fed expects a rate cut of 100 basis points in 2025 and 50 basis points in 2026. The long-awaited "reversal of the Fed" has officially begun.
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