#PowellRemarks Fed Chair Jerome Powell doubled down on tackling inflation, signaling no rate cuts until inflation cools to 2%. This hawkish stance bolstered the US Dollar, while crypto and stocks took a hit—Bitcoin slipped under $83K, and the S&P 500 dropped 3.8%. Futures markets are jittery, with traders eyeing a September cut at best. Powell’s nod to tariffs as an inflation driver adds uncertainty, potentially stalling crypto IPO hype like Circle’s. I expect markets to stay turbulent, but crypto could rally if regulatory tailwinds persist.
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