All Eyes on Powell in Jackson Hole
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Powell suggests Fed could cut rates soon
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Will Jerome Powell hint at interest rate cuts at the Jackson Hole summit? Either way, it could have a big impact on Bitcoin.
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News Nation on MSNAs Jackson Hole summit begins, Wall Street eyes potential rate cut
This year’s summit carries additional weight: it will be Powell’s last appearance at Jackson Hole as Fed chair before his term ends in May 2026. It also comes at a time of mounting pressure from both Wall Street and the White House, as President Donald Trump continues to push the central bank to align with his tariff-driven economic agenda.
Gold rose on Wednesday, buoyed by a softer U.S. dollar, as investors looked towards the minutes of the Federal Reserve's July meeting and the Jackson Hole symposium of central bankers this week for cues on further rate cuts.
Traders are hoping that Fed chair Jerome Powell will indicate an imminent cut to interest rates during his remarks - but this is far from guaranteed.
Financial markets are looking for any indication that a rate cut is coming during the annual summit in Wyoming, which sees Federal Reserve Governors, policymakers and economists gather. President Trump has made no secret of his desire for Fed Chair Jerome Powell to cut interest rates.
Gold prices edged lower on Tuesday as the U.S. dollar firmed, while investors hunkered down for Federal Reserve Chair Jerome Powell's speech at Jackson Hole later this week.
Bitcoin and Ethereum slid ahead of the Fed's Jackson Hole Summit, OKB led gainers and Pump.fun was the top loser.