Jerome Powell Signals Potential Rate Cuts Amid Persistent Inflation Concerns

Federal Reserve Chair Jerome Powell’s recent remarks shed light on the central bank’s stance amidst ongoing inflation concerns. Despite recent high inflation readings, Powell said that the overall economic outlook remains unchanged

Powell’s remarks hint at multiple rate cuts this year if inflationary pressures continue to ease as anticipated.

“The recent data do not, however, materially change the overall picture, which continues to be one of solid growth, a strong but rebalancing labor market, and inflation moving down toward 2% on a sometimes bubbly path,” Jerome Powell said in a speech at a forum at the Stanford Graduate School of Business.

Powell indicated that most Fed officials view it as likely to be appropriate to commence rate cuts at some point in the year. This move aims to address inflationary concerns and support economic stability. As the presidential election campaign peaks in July and September, the Federal Reserve is expected to discuss potential rate changes.

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Inflationary Dynamics

Although inflation has moderated from its peak, it remains above the Fed’s 2% target. Average prices continue to surpass pre-pandemic levels, ing unease among Americans and posing challenges. While the recent uptick in inflation has caused some economists to revise their projections, the Fed remains vigilant in monitoring price trends.

Rate cuts, if implemented, would mark a reversal of the 11 consecutive increases initiated by the Fed since March 2022. Lowering borrowing rates for households and businesses could stimulate economic activity over time, supporting recovery efforts.

Expectations among economists suggest that the Fed’s first rate cut may not occur until July or later. Speculation persists on whether the Fed will opt to delay rate adjustments until after the presidential election, with the November meeting scheduled immediately following Election Day.

The price of Bitcoin didn’t react much to the news and trading at $65,835, as of writing.

As the halving event of Bitcoin Cash looms near, speculation about its impact on the future of this cryptocurrency and its effect on the wider crypto market abounds. Meanwhile, BlockDAG (BDAG) has been stealing the limelight with its remarkable potential for a 20,000-fold return on investment. This, combined with the network’s ability to process 10,000 to 15,000 transactions per second, has seen its presale soar past the $12.4 million mark, drawing attention amidst AXL’s optimistic price forecast

## Bitcoin Cash Halving: A Glimpse into Future Mining

The anticipated Bitcoin Cash (BCH) halving is set to occur on Tuesday, with the blockchain reaching a block height of 840,000, slashing the block reward from 6.25 BCH to 3.12 BCH. This quadrennial event is poised to make mining more challenging and increase the hash rate, which currently stands impressively at 4.50 EH/s. Despite Bitcoin Cash traditionally mirroring Bitcoin’s price movements, it struggles with being labeled a “zombie coin” due to its scarce usage. Recently, its price resilience was noted, although a bearish shooting star pattern suggests a potential retreat to $526.

## Examining AXL’s Price: Bulls Hold Firm Amid Uncertainty

AXL’s pricing dynamics point to a standoff, with the coin’s value hovering near the 20-day EMA at $2. The bulls have successfully defended this level against bearish pressures, keeping the price above the EMA trend lines at $2.06. A fall beneath the 20-day EMA might lead to a downward trend towards the uptrend line, necessitating buyer support to avert a momentum reversal. A climb above $2.2 could indicate a bullish move towards the $2.6 resistance level, with the Relative Strength Index (RSI) currently showing a balanced market.

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The technology behind BDAG is a hybrid one, combining both Directed Acyclic Graphs (DAG), that help to develop transaction speed, and Proof-of-Work (PoW), a consensus technique used by major crypto giants to address questions such as scalability, decentralization, and security.

Why BlockDAG is the Crypto Investment of the Moment

While Bitcoin Cash’s upcoming halving and AXL’s price movements present unique opportunities, they pale in comparison to BlockDAG’s promise. With its stellar transaction capacity and the successful presale buoyed by forecasts of a 20,000x ROI, BlockDAG is poised for significant growth and innovation within the blockchain domain. Its unparalleled features and robust network architecture render it an attractive option for investors aiming to diversify their crypto holdings.

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