10X Research said in its report that while the Fed's statement remained flexible and did not explicitly indicate a rate cut in September, Chairperson Powell's comments in the ensuing question-and-answer session hinted at the possibility of a rate cut, depending on expected lower inflation.
Previously, Powell said that the Fed will only start cutting interest rates when the situation of multiple rate cuts is clear enough. If the Fed continues to cut interest rates in September, there may be several more rate cuts while the economy remains stable, providing a substantial stimulus to financial marekts.
Based on its modelling, the inflation report due on August 14 is expected to show inflation falling below 3.0 per cent, as the market enters a period of relatively favourable year-on-year inflation from August to October.
In addition, the record high price of gold could be a positive sign for Bitcoin.
10X Research: Inflation report to be released on August 14 shows inflation will fall below 3.0%
2024-08-01 10:01:04
10X research reports indicated in although fed statement maintaineddesk3cryptocurrencydesktopCrypto News
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