The Big Pullback After Rate Cuts: Is the Crypto Bull Market Over?
Just one week after the Federal Reserve’s first interest rate cut of 2025 in September, Chairman Jerome Powell spoke publicly again on September 24, delivering a complex and nuanced message. He warned that the U.S. labor market is showing signs of weakness, economic prospects are under pressure, and inflation remains above 2%. This “two-way risk” has left policymakers in a dilemma, with Powell noting, “There is no risk-free path forward.”
Powell also commented that stock market valuations are relatively high but emphasized that this is not a period of rising financial risks. Regarding the October policy meeting, Powell stated there is no pre-set policy trajectory. The market interpreted his remarks as having a “dovish bias”: following…
