Fed Chair Jerome Powell expected to deliver speech at annual event
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Powell will offer a speech at the annual event on Friday, which brings together economists, monetary policymakers and academics from all around the world.Shiba Inu Is Sleeping: When Will It Wake Up? Solana on Reversal Support, Is Bitcoin Finally Safe on $60,000?The markets have fully priced in a Fed rate decrease in September; however, the odds of a 50 basis point reduction have been reduced to 28.5%, according to CME's FedWatch tool.
Investors are still processing last week's announcement of U.S. retail sales numbers for July and weekly initial unemployment claims, both of which were stronger than expected. The statistics helped to alleviate recent fears about the strength of the U.S. economy, lifting global stock markets.While markets expect the Fed to start lowering borrowing costs at its September meeting, Powell could easily remain tight-lipped on the timing of rate cuts in his Friday speech.
Analysts identified the risk of Bitcoin selling confiscated by the U.S. government — which is reported to have over $12 billion — as among the challenges for digital assets.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.Holonym Foundation Emerges with $5.
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