TechFlow news, on August 21, QCP Capital's latest report indicated that Wall Street rumors suggest a potential downward revision of up to 600,000 in U.S. employment data, triggering market reassessment of the Federal Reserve's policy stance. Previously, the Fed had delayed rate cuts based on strong labor market and economic performance.
Industry expects Fed Chair Powell to comment on this issue at the upcoming Jackson Hole annual symposium. However, with one month remaining until the September Fed meeting, Powell may avoid making definitive commitments.
If employment data undergoes significant downward revisions or if Powell adopts a dovish tone, it could reverse the recent two-week stock market rally and push Bitcoin and Ethereum below key support levels. Regardless of data adjustments, markets anticipate the Fed will cut rates in September, with expected rate cuts of 3.7 times in 2024 and 4.5 times in 2025.
