According to BlockBeats, a recent report by QCP Capital on August 21 highlighted rumors on Wall Street suggesting a potential downward revision of at least 600,000 jobs in the US employment data. This speculation has led to a reassessment of the Federal Reserve's policy stance. Previously, the Federal Reserve had delayed plans to cut interest rates based on strong employment and economic performance.
Industry experts anticipate that Federal Reserve Chairman Jerome Powell will address this issue at the upcoming annual Jackson Hole meeting. However, with a month remaining until the September Federal Reserve meeting, Powell may refrain from making any definitive commitments.
If the employment data is significantly revised downward or if Powell's comments lean dovish, it could reverse the recent two-week stock market rally and push Bitcoin and Ethereum below their support levels. Regardless of the data revision, the market expects the Federal Reserve to cut interest rates in September, with projections of 3.7 rate cuts in 2024 and 4.5 in 2025.
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