💥 Powell unexpectedly appeared, but not in a tense FOMC press conference as usual—just a brief speech followed by a discussion at the memorial event for former Secretary of State George Shultz. However, this 'unusual' appearance left the entire market holding its breath.
🔥 What's more noteworthy: the event falls right into the 'blackout' period – the 10 days before the interest rate meeting when all Fed officials are prohibited from revealing economic outlooks or monetary policy.
➡️ So even though there is a Q&A session, it is almost certain that Powell will not give any hints about policy. The market is anxiously waiting but is likely to only hear... pleasantries!
💸 Meanwhile, investors are still betting on a 87.6% chance that the Fed will cut interest rates by 0.25% on 11/12 – a market explosion that is more desired than ever.#bitcoin
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