$BTC

With the important remarks of the Fed Chairman before the end of his term at the Jackson Hole economic conference.

The reality after the speech: gold rises, risk assets surge, stocks hit record highs. Positive signals.

The CME Fedwatch index increased to over 90% probability of a 0.25% cut in September.

Summary:

US economy: inflation at 2.6%, close to the 2% target

Weak job growth, GDP growing slowly (1.2%), stable unemployment rate at 4.2% with risks of increase.

The policy conveyed through the speech is moderate and leans towards easing: a cut in September depending on data. Shifting focus from combating inflation to supporting employment. This means flexible inflation control may not reach 2% and weakened employment with rising unemployment may trigger immediate action. The main direction is to support employment. Therefore, upcoming employment reports are more important.

It is a positive signal but caution is needed regarding overheating increases.