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In what is an immensely important development for the US economy, the latest Consumer Price Index report shows that inflation fell to 2.5% in August 2024. The development is massively important to the Federal Reserve, as they look to issue their first interest rate cuts in more than four weeks. The expectation is that those cuts will come as early as next week. Although the inflation data is still above the Fed’s 2% target, circumstances have pushed cuts ahead of schedule. Currently, the CME Group FedWatch tool predicts a 71% chance of a 25 basis point cut during the next FOMC meeting on September 17th. BREAKING: US inflation falls to 2.5%, lower than expectations. — Watcher.Guru (@WatcherGuru) September 11, 2024 Also Read: US Economy Is Slowing Down, Showing Signs Of A Possible Decay US Inflation Falls Below Expectations for August 2024 The United States economy has long been languishing in a state of fragility. Following the continued pandemic recovery, the Federal Reserv...

Bitcoin surged over 5% on Friday, August 23, 2024, following Federal Reserve Chair Jerome Powell’s recent comments. The Fed’s hints at potential interest rate cuts have reignited the crypto market and discussions about crypto regulations. Also Read: BRICS: Payments in Chinese Yuan Surpasses the US Dollar by 2.5% Fed’s Rate Cut Hints Spark Bitcoin Surge Amid Regulatory Uncertainty Source: Canva Powell’s Jackson Hole Speech: A Catalyst for Crypto Investors watched Powell’s address at the Jackson Hole Economic Symposium closely. He expressed confidence in managing inflation, which had peaked in 2022. The Fed’s remarks about possible rate cuts starting September 2024 were received positively by the crypto market. Market Response: Bitcoin and Altcoins Rally After Powell’s speech, Bitcoin’s value increased by 5.59%, reaching $63,720. Other cryptocurrencies also gained. Ethereum rose 2.9% to $2,685. Solana went up by 2.4%, while Polkadot increase...