After Powell's speech at Jackson Hole, market bets on a rate cut in September soared by nearly 90%.

Federal Reserve Chairman Powell stated tonight at the Jackson Hole annual meeting in Wyoming that if a hot labor market threatens price stability, the Fed will take "preemptive" action; however, he also emphasized that merely exceeding the uncertain estimate of potential maximum employment does not necessarily trigger policy tightening.

After the speech, CME's "FedWatch" quickly raised the probability of a rate cut. Data shows that the probability of a 25 basis point rate cut in September rose to 89.21%, while the probability of maintaining the current rate is only 10.8%; the cumulative probability of a 25 basis point rate cut in October is 49%, the cumulative probability of a 50 basis point rate cut is 45.8%, and the probability of keeping the rate unchanged is only 5.3%.

Affected by Powell's speech, the trading market reacted strongly. According to Coingecko data, Bitcoin surged by 1.6% to $116,798 million in the past hour, while Ethereum also rose by 1.6% to $4,655 in the past hour.

In summary, two interest rate cuts within the year have been fully factored into the interest rate cut cycle by the market. Traders are also demonstrating through their actions that a path of easing within the year has become a consensus.

#鲍威尔说了什么 # Federal Reserve cuts interest rates