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Powell's "Dovish" Tone Loud and Clear, Probability of Fed Rate Cut in September Rises to 85.2%
BlockBeats News, August 23rd, Federal Reserve Chairman Powell stated that the continuously "changing" economic risks have provided the Fed with a more compelling reason to cut interest rates. This statement indicates that Powell has aligned with the "dovish" camp within the Federal Open Market Committee responsible for setting rates, and it also suggests that he may signal his support for a 25 basis point rate cut at the Fed's next meeting in September.
According to CME FedWatch, the probability of a 25 basis point rate cut by the Fed in September has risen to 85.2% (up from around 75% before Powell's speech), while the probability of rates remaining unchanged is 14.8%.
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