FED Chair Jerome Powell spoke at Jackson Hole on August 22, addressing rate cuts, inflation, and the labor market.

Powell’s Friday appearance turned out to be a bonanza for intraday stock traders and crypto investors, as both the NASDAQ and major cryptos surged after he hinted at a possible September rate cut.

Powell noted that the balance of risks is shifting in the U.S. economy. While inflation remains a concern for the Fed, the latest labor market data is now a bigger worry.

Job growth, for instance, has slowed dramatically: from 168,000 new jobs in 2024 to just 35,000 in the latest figures. At the same time, unemployment has held steady at 4.2%.

This slowdown is partly due to reduced demand and supply in the job market, temporarily influenced by weaker immigration flows.

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