Powell speaks! Will the crypto circle rise or fall all depend on this tremor?
When the Federal Reserve sneezes, the global market catches a cold. Where will this sneeze blow tonight?
CITIC Securities' latest report has broken the ice: Global funds are like ants on a hot pan, waiting for Federal Reserve Chairman Powell to say something at the central bank annual meeting. The July CPI data has just given the market a taste of the sweetness of interest rate cuts, but the PPI data has splashed a bucket of cold water. Now everyone is betting— will Old Powell tonight be "dovish" or "hawkish"?
Interest rate cut expectations have become a seesaw
The erratic behavior of U.S. stocks these past few days is reminiscent of elementary school students waiting for their teacher to announce exam results. When the CPI data was released, the market was still dreaming of a rate cut in September, but then the PPI data threw out the "sticky inflation theory." Now, Wall Street is divided into two factions: one believes the Federal Reserve will be slapped in the face by the data and continue to be stubborn, while the other bets the central bank can't withstand the pressure and will loosen up early.
CITIC Securities' latest report has broken the ice: Global funds are like ants on a hot pan, waiting for Federal Reserve Chairman Powell to say something at the central bank annual meeting. The July CPI data has just given the market a taste of the sweetness of interest rate cuts, but the PPI data has splashed a bucket of cold water. Now everyone is betting— will Old Powell tonight be "dovish" or "hawkish"?
Interest rate cut expectations have become a seesaw
The erratic behavior of U.S. stocks these past few days is reminiscent of elementary school students waiting for their teacher to announce exam results. When the CPI data was released, the market was still dreaming of a rate cut in September, but then the PPI data threw out the "sticky inflation theory." Now, Wall Street is divided into two factions: one believes the Federal Reserve will be slapped in the face by the data and continue to be stubborn, while the other bets the central bank can't withstand the pressure and will loosen up early.
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