What worries the Fed the most is how Trump’s policies could impact inflation. In September, prices increased at a slower rate than analysts expected. Nonetheless, this 100% tariff increase could lead to a severe spike in the price of goods across the United States.
Ethereum ETF net outflows in the past couple of days spiked to $260 million. These vehicles have only ended 3 out of the last 11 days with positive net inflows, as the October 10 flash crash spooked investors.
Although Powell’s comments are not supportive of further easing, they are also not fully discarding a rate cut in December.
Data from FedWatch shows a dramatic change in the odds that the Fed will lower rates by then. Just a week ago, 91% of analysts expected that outcome, compared to only 63% as of today.
Hourly Chart Confirms Strong Buying Pressure at $3.7K
The daily chart shows that ETH hit a key support once again at $3,700 and bounced off this level strongly. This could be the beginning of a full-blown recovery now that the market has revisited its forecasts.
