🗣Federal Reserve Chair Jerome Powell hinted at possible rate cuts, citing a cooling labor market as less of an inflationary threat. Powell’s shift suggests the Fed is closer to lowering rates. Despite job gains, the unemployment rate rose to 4.1% in June. Inflation fell to 2.6%, but remains above the Fed's 2% target. Powell emphasized the balance of risks between inflation and labor market slowdown, though he avoided committing to specific timing for rate cuts. Bitcoin price increased immediately after the speech. #Bitcoin $BTC #FED #InterestRates #Web3 #Blockchain