US Fed Chair May Signal Support for Rate Cuts in September
📊 Summary:
🟢 Fed Chair Jerome Powell is expected to hint at a possible rate cut in his speech at the Jackson Hole Economic Symposium on Friday. It would be the first rate cut since 2020, and could come in September if the labor market strengthens and inflation continues to decline.
📊 Key Points:
🟢 Current Rates: The Fed's benchmark rate is at a 23-year high of 5.25% - 5.50%.
🟢 Powell's Speech: Expected on Friday at 10 a.m. ET, where Powell could signal a rate cut.
🟢 Cut Size: Economists expect a rate cut, but it's unclear whether it will be 0.25% or 0.50%.
🟢 Jobs Report: The decision may depend on the upcoming jobs report on September 6.
📊 Market Impact:
🟢 As inflation cools, rate cut expectations have weakened the USD, which fell 2.2% against other currencies in August. Investors may need to reconsider their strategies, especially USD-denominated assets.
🔗 Source: Coinpedia (https://coinpedia.org/news/us-fed-chair-to-signal-support-for-rate-cut-in-upcoming-conference/)
