#PowellRemarks Federal Reserve Chair Jerome Powell’s remarks at 8:30 AM KSA struck a hawkish tone, dashing hopes for 2024 rate cuts. Powell emphasized "insufficient progress" on inflation, citing sticky service-sector prices and resilient labor data. Markets reacted instantly: S&P futures fell 1.2%, Bitcoin dropped to $64,800, and rate-sensitive altcoins ($SOL, $AVAX) slid 5-7%. The Fed now signals just one 25bps cut in Q1 2025—later than expected. Traders should brace for sustained pressure on growth assets and rising Treasury yields. Defensive plays (stablecoin yields, cash) may outperform until inflation visibly cracks.