Powell Teases Fed Rate Cuts Before 2% Inflation Mark, Bitcoin Rally Ahead?

Federal Reserve Chair Jerome Powell has indicated that the Central Bank will not adopt a wait-and-see approach until the interest rate dips to 2% before cutting interest rates. Recent data from the U.S. Labor Department shows declining inflation to 3% although still above the Fed’s 2% target. This increased bullish sentiment in the market as financial markets picked up after weekly lows.